The European Crisis Continues: No Solution on the Horizon (Václav Klaus Part I)

As the European Crisis continues, with no solution in sight, it is becoming increasingly clear to many that the problems are deep and structural. Stagnant growth, persistent unemployment, and public dissatisfaction are threatening the very premises of the European project. Although some believe that "an ever-closer Europe" is the solution, others argue that the current crisis is no accident; it is the natural result of naïve and excessively optimistic expectations concerning the economic benefits of integration and centralization. Professor Václav Klaus, former Czech minister of finance and prime minister, and now distinguished senior fellow at the Cato Institute, will address these pressing questions during his first visit to Washington just days after stepping down from his second term as president.