Europe: A crisis of leadership?Posted: 19/06/2012
European Commission President Jose Manuel Barroso – who defiantly told the G20 meeting yesterday that American capitalism was to blame for the eurozone crisis – wouldn’t agree. However, as talks continue to form a government in Greece and Spain has been forced to delay an audit of banks amid fears that a bailout could top €100 billion, our Director for Geo-economics and Strategy Sanjaya Baru argues in his column this week for the Indian Express that ‘at the core of the financial crisis in Europe there is a leadership crisis’.
The EU has struggled to articulate ‘an idea of Europe’ and so to offer continent-wide solutions to continent wide problems, Baru says. ‘The challenge for the EU is to find its Ambedkar’ he suggests, referring to B.R. Ambdekar, the jurist and social reformer who spearheaded the drafting of the Indian Constitution.