“What´s Wrong with Europe – and by the Way – Why don´t You Fix it?” er ræða, sem var flutt 14. sept.á ráðstefnu í Vilníus um framtíð Evrópu. Ráðstefnan var haldin í boði utanríkisráðherra Litáens í tilefni af því, að aldarfjórðugur er liðinn frá því að alþjóðasamfélagið viðurkenndi endurreist sjálfstæði Litáens.
Jón Baldvin Hannibalsson, ex Minister of Foreign Affairs of Iceland, gave this speech at a conference in Vilnius, September 14-15, 2016, sponsored by the Hon. Minister of Foreign Affairs of Lithuania, Mr. Linas Linkevicius.
In 2012 – a few years after the American financial crisis had spread around the globe and morphed into the Euro-crisis – I was invited to give a keynote-speech at the Baltic Assembly here in Vilnius. On the future of Europe – what else! The title of my talk then was „What is wrong with Europe – and, by the way, why don´t you fix it?“ At the beginning of my speech I followed the academic example by enumerating a few key-concepts, to start my audience thinking. Here they are again:
Toxic loans. Insolvent banks. Unsustainable debt. Bailouts of banks. Junk ratings. Sovereign defaults. Recession. Tax havens. Market manipulation. Insider trading. Creative accounting. Moral hazard. Social contract. Inequality: 1% vs. 99%. Austerity. Plutocracy vs. democracy.
This should suffice to start you thinking. Each and every concept speaks volumes about what´s wrong with Europe. Has anything changed during the past four years? Or are we simply stuck in this mess, for which European leaders seem to have no effective solutions?
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There is now a growing volume of literature on the Euro crisis – which simply won´t go away – and the austerity recipe which was supposed to cure it, but to no avail. One of the latest is: „The Euro: How a Common Currency Threatens the Future of Europe“, by a Nobel price winner in economics, Joseph Stiglitz. Listen to what he has to say:
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