Divided and deluded, europe faces crisis on every front – capx

There is “Freemovementland” – the passport-free travel area that stretches from the Greek islands to the north of Norway. Countries in europe list There is “Frontlineland” – the countries which fear Russian meddling and aggression. List of countries in europe by gdp There is “Euroland” – the countries which use the common currency.


Countries in europe by size And there is “Singlemarketland” – the area governed by the guardians in Brussels who try to guarantee the free movement of goods and capital, and prohibit protectionism and cartels.

There are two important things to know about these entities. M countries in europe The first is that all straddle the familiar categories of European Union and Nato. List countries in europe Finland, Sweden and Ukraine, for example, are in Frontlineland but not in Nato. What countries in europe use the euro Norway is in Frontlineland, Freemovementland and Singlemarketland, but not in the EU.

Euroland is in the biggest pickle. Names of all the countries in europe A common currency is a splendid idea. List of countries in europe by population It intensifies competition and cuts transaction costs – but only when the economies taking part are similar, or already converging fast.

Instead, the euro was used as a means to encourage convergence. A list of countries in europe A hard monetary constraint, the theory went, would encourage low-productivity, slow-growing economies like Italy and Greece to modernise and reach German standards.

Predictably in hindsight, that didn’t happen. No of countries in europe Barred from its usual route to maintaining competitiveness – devaluing the lira – Italy was imprisoned in an iron triangle, with a fixed exchange rate and little room for expansionary fiscal policy. What countries in europe do not use the euro Debts ballooned; output stagnated.

Greece went on a borrowing binge which has left the country bankrupt. Countries in europe that speak french Cyprus was toppled by its penchant for highly leveraged offshore banking. Number of countries in europe Portugal, similarly uncompetitive, has had a decade of stagnation.

The price is not just lost output: millions of young Europeans have had their twenties and thirties blighted by lack of opportunity: living at home and working in dead-end jobs when they should be starting careers and families.

Germany has been the big short-term beneficiary of this. List of countries under eu The D-Mark should have soared against other European currencies, reflecting Germany’s formidable productivity and competitiveness. Countries in europe how many Instead exchange rates stayed low: a huge disguised subsidy to German exporters. List of countries in eastern europe Get more from CapX

Moreover, German savers sought high returns by lending to dodgy borrowers in southern Europe. Top countries in europe The price is that Germany now has a soft currency: to stave off disaster in the south (and to prop up the German banking system) the European Central Bank has printed trillions of euros in a way that the Bundesbank would have never countenanced.

Singlemarketland, too, is in trouble. Countries in europe quiz Donald Trump has made protectionism and interventionism respectable, even fashionable. How countries in europe Globalisation is out of fashion. List of poorest countries in europe Britain – one of the strongest champions of competition policy – is leaving. Name the countries in europe Voters want their national governments to do more to prevent jobs flowing abroad, to prop up national champions and to lessen economic uncertainty.

Again, people are fed up not only with their situation, but with the smug attitude of the Singlemarketland elite, which insists that everything is going to be fine.

Freemovementland is also badly off. Map of all countries in europe Abolishing national borders works brilliantly if the external frontier is properly secured, if the countries are of broadly similar standards of living, and if law enforcement can act smoothly and swiftly across the old national borders.

In Europe, none of those conditions apply. Number of countries in europe continent The external frontier – notably in the Mediterranean, but also with Turkey – is porous. How many countries are in europe union Standards of living vary hugely, meaning that destitute Roma from eastern Europe can legally move to rich countries where their lives will be better, but where their chances of finding lawful employment and harmonious neighbourly relations are slim. Ten countries in europe And cross-border policing is hampered by strict rules on privacy and data-sharing.

Unsurprisingly, people are fed up with this, and with the smug attitude of the Freemovementland elite, which insists that everything is going to be fine.

It is Frontlineland, however, that faces the most dramatic danger. Learn countries in europe Vladimir Putin is on a roll. Name 10 countries in europe He has used the Syria conflict to show that Russia is once again a force to be reckoned with, able to project force beyond its borders.

He has successfully wooed Turkey – and is drooling at the prospect of Mr Trump in the White House. Map of countries in europe The president-elect believes diplomacy is about deals, not alliances. List of countries in europe continent He reveres strength. All the countries in europe He wants to make repairing relations with Russia a hallmark policy of his first months in office.

The states in Frontlineland tremble at this prospect. 2 countries in europe Nato is essentially a bluff: it relies on adversaries believing that an attack on any member of the alliance will invoke the wrath of the others, particularly the United States. Countries of europe Elsewhere on CapX

Mr Trump’s scornful remarks about allies, and his gushing admiration for Mr Putin, shreds the credibility of that bluff. European countries and capitals Ukraine and Georgia will be the first victims: America under Mr Trump will drop sanctions and accept, de facto if not de jure, Russian sovereignty over Crimea. How many countries in europe Further Nato enlargement will be ruled out.

Most dangerous of all, a Russian-American deal will demoralise the Baltic states – the weakest and most exposed members of Nato. What countries are included in europe Mr Putin does not want to conquer these countries; but he would like to subvert them. Countries in europe game That would neatly shred Nato’s credibility and pave the way for a new European great power politics, in which Russia could play a full role.

People in Frontlineland are pretty fed up with this too. How many countries in eastern europe They wonder why they trusted Nato. How many countries of europe In countries such as Hungary, some policymakers think it may be better to do a deal with Mr Putin while the terms are good, rather than wait for them to worsen.

At least on this issue, some decision-makers are no longer smug. What countries are in europe but not in the eu In the dying days of his presidency, Barack Obama imposed sanctions on Russia which he should have slapped on eight years previously. List of countries in europe by area Britain is belatedly waking up, as is Germany.

Timid, deluded and divided, Europe’s different entities are facing disaster. Countries in europe beginning with d Yet the European ruling elites have missed countless chances to avert it.

And they are so convinced of their own rightness, and of their right to rule, that they show no sign of changing course – or of listening to the rumble of the approaching tumbrils.