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It has been almost a decade since the 2008 financial crisis, and the confrontational politics that emerged in its aftermath remain ubiquitous in the West. But, despite similarities between the United States and the European Union, differences in how they address social, economic and fiscal issues have recently been thrown into sharp relief.Since President Donald Trump's surprise election victory, the U.S. has seemed to be competing with the EU over which side's politics are more contentious and dysfunctional. In Europe, domestic political forces routinely clash with constitutional courts and supranational bodies.Beyond these rhetorical similarities, the European policymaking approach is very different from that of the Trump administration. And it is telling that, during Europe's long struggle since the financial crisis, it has avoided any spectacular collapses, with the exception of the United Kingdom's Brexit referendum.Europe does not have an uncontested leader to impose policy preferences on everyone else.In 2017, Europe may learn two more important lessons. First, a member state's exit from the EU need not be a destructive gambit in a game of chicken, if the country's departure removes tension points and preserves the foundation for future bargaining.
Italy’s writing on the wall:
A cautionary tale once again
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Winter is coming to the United Kingdom
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