“Dear David, I cannot agree that those responsible are the "unelected bureaucrats" of the EU. In my eyes the persons responsible are the governing politicians of the member states of the EU. I consider them to be cowards because they make the political decisions that are behind the excessive austerity of the EU and then fail to state publicly that they are responsible. They use the media to push the responsibility on to the EU bureaucrats. In my meetings with Van Rompuy and Barroso I have criticised them for not going public on this. They have been the lapdogs of Merkel and co and have not had the guts to stand up to them. The bureaucrats are responsible for carrying out the policies decided by the European governments. In spite of his speech yesterday, I do not have much confidence in Juncker being any different from his predecessor.”

David Fuller's view

Well, you are obviously closer to the scene than I am and I appreciate your perspective.  However, I do not think “excessive austerity” is the root of the problem in Europe.  As I see it, the EU suffers from bloated and too often unaccountable governance which runs an overly socialistic system.  At best, this is a well meaning but uncompetitive handicap in global commerce.  It is a disincentive for too many of your most creative and commercial brains, some of whom are now my neighbours in London.  At worst, it is an obsession with empire building. I wait to see evidence that European countries are questioning and addressing their reasons for serial economic underperformance in an increasingly competitive global environment.  Some may not care that much and opt for what is an admittedly attractive lifestyle if they have family capital.  Others vote with their feet.  Meanwhile, Europe’s younger adults have some of the highest unemployment levels in the developed world, although this varies considerably among countries.  The single currency must be a contributing factor to the EU’s pockets of serious unemployment.