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Leadership in a Time of Contagion

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BERLIN – Google “Europe” and “crisis” and you will turn up 784 million results. So often do the two terms appear together that they might as well be a compound noun. With each new eurocrisis, commentators wring their hands over the question of whether the European project will survive.

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    On the surface, many eurocrises seem similar. European governments go through different phases of grief – from denial and anger to reconstruction and acceptance – and eventually blame the usual suspects. For northern Europeans, the problem always lies in southern Europe; for southerners, the Germans are the bad guys, and China is a potential savior.

    But, of course, there are fundamental differences between the generation of leaders who........

    © Project Syndicate