Source: www.economist.com

LET Europe arise! Such was Winston Churchills exhortation at the conclusion of his 1946 speech in Zurich envisioning a United States of Europe. Britain would not be part of it; it had its own empire and Commonwealth. But Churchill said Britain, and others, must be the friends and sponsors of the new Europe.There is something of this Churchillian loftiness in Britains call for the euro area to follow the logic of integration and save the single currencyas long as Britain is not involved. But whereas Churchill is sometimes claimed as a forefather of the European project, the interventions of … (read more)