Who Lost the Euro?

The single currency was supposed to create a common European identity—which is why it was doomed from the start
Illustration by Daniel Pudles

The arc of Europe’s postwar history is turning toward tragedy. It isn’t just that much of the Continent has fallen into a new Great Depression, or that in some countries things will get worse before they get better. It isn’t even that the whole mess was avoidable in the first place. It’s that the crisis is dividing Europe along the very lines the European project was intended to erase.

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