, Columnist
Banking Union Is Last Gambit to Save Euro Dream
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The euro crisis isn’t Angela Merkel’s fault.
The real culprits are the founding fathers -- Francois Mitterrand, Helmut Kohl, Jacques Delors or Romano Prodi -- who created a common currency based on poor economics and worse politics. They knew their brainchild was flawed, and bet that future crises would force it to evolve. Unfortunately, they willfully ignored the dysfunction of Europe’s political structures, which allow Luxembourg, a country with fewer inhabitants than Tucson, Arizona, to veto any communal decision.