A year ago, when the worlds elite last met in Davos, Europe itself appeared to have survived a series of threats to its cohesion.
The launch of the European Central Banks quantitative-easing program looked set to underpin a modest recovery. Banks had bulked up on capital. A newly installed European Commission promised steps to deepen the single market, boost investment and reduce red tape.
Today, the survival of the European project looks increasingly precarious.
Two crisesGreeces brinkmanship that almost culminated in the countrys ejection from the eurozone and the turmoil surrounding the surge of migrantshave exposed deep fla…
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