The financial markets have been subject to considerable criticism in the last weeks; analysts are worried that financial considerations will dictate decisions that should be taken via a democratic process. By analyzing the reasons and the effects of the criticized behavior the conclusion must be drawn that Europe in the long term should be grateful for the present warnings of the market.
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In the turmoil of the European financial crisis, the project of European integration seems to have lost its appealing attractiveness. Our politicians are not considered to be the leaders Europe needs. The European Court of Justice however continues to stress the importance of the European project and its approach towards Europe and its importance provides some useful lessons for our politicians in order to become true leaders.
The victory of the rebel forces in Libya is often conceived as not only their victory, but as a victory of European diplomacy as well. Though this might be true for the relations between Europe and the United States, it is doubtful whether it is the case for the relations with the Arab world as well. The economic and political reality must lead to the conclusion that the effects might not be as lasting as one would hope.