The central cause for the crisis in Europe is not undisciplined spending by profligate states, but the asymmetric structural symbiosis between states and banks. Under the current European regime states are lenders of last resort for banks and banks are lenders of last resort for states. That...

Altneuland: The European Constitutional Terrain It is in many respects a New Land - for the first time the Union is openly, officially using the word Constitution in its formal self-understanding. But this, in turn, places it, at least lexically, in the age old terrain of constitutionalism which...