Yves Bertoncini is the director of the Paris-based Notre Europe – Jacques Delors Institute.
National authorities and financial market failures are the main roots of the economic, financial and social crises affecting most of the European countries. The EU did not perform well in preventing these crises, but it is not its cause. The EU has become as unpopular as the IMF, not only in countries where drastic reform has been traded for European aid, but also in countries not keen on financing this aid.