A few days ago the German Chancellor, Angela Merkel challenged the way in which Europeans think about the world and what they have come to expect from their governments. “All of us have to stop spending more than we earn every year,” she told the Financial Times. “If Europe today accounts for just over 7 per cent of the world’s population, produces around 25 per cent of global GDP and has to finance 50 per cent of global social spending, then it’s obvious that it will have to work very hard to maintain its prosperity and way of life.”
Her message was intended for a Europe that cannot agree on how best
