Europe is creating conditions – of misery, poverty and hopelessness – in a number of its member states, more in some than in others at this point in time, that are not unlike those that provided the space needed by the likes of Hitler and Mussolini to rise to power in the 1920s and ’30s. And that is a grave danger.
That is still the essence of the entire crisis: the people in the street being forced to pay for the long lost wagers of those in penthouses and ivory banking towers. And while a shift away from bankers as deciders towards politicians is a good first step, it won’t suffice by itself. What Europe needs now are statesmen (however hard they may be to come by) who focus on the next generation, not politicians, who focus only on the next election. Failing to do that will result in a lot of ugliness and bloodshed. The longer Mario Draghi remains where he is, the more dangerous it gets. It’s not too late yet. But it soon will be.