Europe’s Harmony Overdose

Europhiles’ zeal for more EU unification and harmonization does not necessarily lead to effective – or even reasonable – solutions to the Union’s troubles. That is important to bear in mind as EU President Herman Van Rompuy’s taskforce on economic governance prepares to unveil its proposed financial reforms.

PRAGUE – One pillar of the European Union’s single market is harmonization. At first sight, that makes a lot of sense. Harmonized systems of rules make it easier for capital and labor to move around in search of their best use.