FRANKFURT — Hello from the new Europe that has left its agonies behind for austerity’s sawdust path to salvation.
It’s a continent arisen and aglow, firmly righteous, the profligate and the abstemious, now soldiers of probity, hands tightly linked, marching to the fore and a world of reclaimed respect.
Nobody believes that — not after the European Union’s 14th debt crisis management summit meeting in 21 months last week (Bloomberg News kept count). The challenge is elsewhere. It is to identify what kind of reality confronts an E.U. that now insists it has come up with elements of a solution to its loss of credibility and relevance.
To be kind, in a week when the Group of 20 leaders are set to meet on the French Riviera, that’s uncertain.
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