The crisis of the Eurocrats

Is the title of a post by Paul Krugman (via) I (almost) completely agree with. My favourite line:

The bitter irony here is that Europe’s elite isn’t actually technocratic. 

The most pithily and brilliantly perceptive line:

And the European elite’s habit of disguising ideology as expertise, of pretending that what it wants to do is what must be done, has created a deficit of legitimacy.

Highly recommended.