In summary, Europe is a curious class of union, a confederation that, without even having become, fantasizes to become a federation. It has an executive, a Parliament, a upper house, a court of justice, a central bank, a common currency, a flag and a hymn. But it only has a tiny common budget and just for a common army. Many

📖 Niall Ferguson

🌍 British  |  👨‍💼 Historian

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Europe is an intriguing union, resembling a confederation that aspires to achieve the status of a federation. It has established several key institutions, such as an executive branch, a parliament, an upper house, a court of justice, a central bank, a common currency, a flag, and an anthem. However, despite these features, Europe’s shared budget is quite limited and primarily focused on defense-related expenditures.

In essence, while Europe has laid down...

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February 04, 2025

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