FLORENCE – The eurozone crisis is a common cause for Europeans. But the shared interests of Europe’s citizens lack adequate political representation – a failing that contributed to the current crisis. The longer the crisis is treated exclusively as a technocratic issue, the more strongly the European Union will be pushed toward disintegration.
To avoid a breakup, Europe’s leaders should look to the ideas of James Madison, one of the authors of the United States Constitution and The Federalist Papers. Currently, Madison’s co-author Alexander Hamilton is on everyone’s mind in Brussels, as watered-down versions of his concept of fiscal federalism are increasingly perceived as the solution to the eurozone’s malaise.