Europeâ??s financial crisis is rapidly metastasizing into a political one, and the coherence of the European Union is more doubtful than at any previous time in recent memory.
Thatâ??s the meaning of last weekâ??s European summit, in which 26 leaders either accepted a German-French plan for tight fiscal discipline or agreed to consider it â?? while British Prime Minister David Cameron said no, amid nationalistic finger-pointing across the continent.
Europeâ??s politicians are making a hash out of the once-proud project of United Europe, and, in the process, making a prophet out of Martin Feldstein.
