Accidental Empires.

 

Read an interesting article today by George Soros about the future of the EU. Here is a precis.

"Barring an accident like the Lehman Brothers bankruptcy, Germany is likely to do enough to hold the euro together, but the EU will become something very different from the open society that once fired people’s imagination. The division between debtor and creditor countries will become permanent, with Germany dominating and the periphery becoming a depressed hinterland."

I dont think Adolph Hitler and Hjalmar SchachtThe economic designs of Hjalmar Schacht.envisioned it could work this well.

Here is the whole article:

http://www.project-syndicate.org/commentary/the-accidental-empire