… European leaders are expected to conclude this week that what the debt-laden, sclerotic countries of the Continent need are a dose of economic growth.

What the European Union needs to do is take a deep breath and admit that having sovereign nations act without regards to a trans-national central bank (ECB) or its currency is a recipe for failure.

IOW, EU member states need to admit that they need to give up a little bit of sovereignty if they’re going to make the whole thing work.