Hugo Dixon is Editor-at-Large, Reuters News and the founder of Reuters Breakingviews. He is also the author of "The In/Out Question: Why Britain Should Stay in the EU and Fight to Make it Better." Before founding Breakingviews in 1999, which he edited until 2012, Hugo spent 13 years at the Financial Times, the last five as Head of Lex. He began his journalistic career at the Economist. Hugo is also a budding philosopher. Follow him on twitter: @hugodixon
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The stagnant euro zone economy is one reason the EU is reluctant to take action against Russia. It also increases the risk that Britain will quit the EU - which, in turn, would diminish its power and ability to stand up to Moscow. The EU really needs to get its act together.
The euro zone is suffering from stagnation, “lowflation,” unemployment and debt. It’s not well placed to weather shocks, such as a further deterioration of relations with Russia. A pact to boost inflation and ramp up structural reform is the best way to insure against disaster.
Jean-Claude Juncker, the European Commission’s president-elect, has embraced the goal of creating such a framework. But so far it is more of a slogan than a set of policy actions. Here’s an attempt to flesh out the idea.
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