Can Europe Return to Reason & Reverse Its Decline?

Jeffrey Sachs, Alexander Mercouris & Glenn Diesen

I had a conversation with Jeffrey Sachs and Alexander Mercouris about the political changes in Europe. The optimism of the European project as a region of peace and prosperity is long gone. The objective had been to resolve conflicts on the continent peacefully and use collective bargaining power to establish greater economic and political independence. Instead, the continent is experiencing war, de-industrialisation, socio-economic and political instability, excessive dependence on the US, and growing irrelevance in the wider world. What went wrong and can the decline be reversed?

The rest of the world adjusts to the emerging multipolarity with a multivector foreign policy by diversifying economic connectivity to improve economic competitiveness and enhance political autonomy. In contrast, the Europeans have subordinated themselves completely to the US and thus suffer from economic decline and political subordination. Declining rationality is also a clear problem as the Europeans pursued policies towards Russia that they knew would put them on a collision course with Russia. Instead of pursuing course correction, the proxy war with Russia increased the security dependence on the US, which enabled Washington to impose bloc discipline. The recovery of Europe requires reversing the militarisation of dividing lines in Europe, and diversifying economic ties to avoid excessive dependence on any one state or region.