EU could do with a little more union

David Marquand covers deeply sensitive topics to paint a picture of the political landscape in Europe during the past 50 years in The End of the West.

The End of The West is more an analysis of politics than business, but the book's topics have far-reaching consequences for financial markets nonetheless.
David Marquand, a former member of the British parliament and an official at the European Commission, educates readers on the history of the EU's formation and the pros and cons of its bureaucratic model.
Marquand covers deeply sensitive topics to paint a picture of the political landscape in Europe during the past 50 years.
The author sparks numerous questions in the reader's mind as he debates the notion of how we define ourselves, and argues that the definition ultimately depends on the context.
"It is perfectly possible to be European and British and Welsh - and a wine drinker, thriller lover, pensioner, theatregoer, grandparent, ex-university teacher and a member of the male sex. I should know, I am all of these things myself," he writes.
Any author that sardonically describes themself as a "thriller lover" is certainly amusing - and gets the readers' attention.
But what Marquand is really saying is that Europeans should accept they are all different, and from that difference, they should work together to form a truly federal union.
This would see Europe able to compete on an increasingly global stage, which emerging markets are now beginning to dominate.
Following the sovereign debt crisis in Greece, Marquand argues that the existing dichotomy in Europe, where national governments control spending and the European Central Bank dictates monetary policy, has been proved to be flawed.
The point is particularly well timed considering the EU has just offered Portugal an ?80 billion (Dh426.2bn) bailout.
Marquand successfully argues that the definitions and perceptions of East and West are going to change, but this is something of which we are all aware. The notion is nothing new.
The most important point Marquand makes is that Europe should develop a sense of where it is going, in order to adapt to this change.
"The great question . is how to grow a European Demos that can sustain a European federation, playing a worthy part in such a world."
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