Europe is going through a very serious crisis, which also applies to the financial services sector in the European Union. One reason can be seen in the fact that the EU has 500 million inhabitants, but no real leader. There are only professional politicians without any vision. Our fundamental problem lays in a a critical lack of political governance.
The organization of Europe after WW2 was created to ensure peace, freedom and economic growth. And It was successful for almost 30 years until the EU had been affected by bad dogmas. There are many rules and regulations that affect European citizens who increasingly tend to support the populist movement.
Of course, migration plays a certain role, but it is not, in principle, what prevents Europeans from living the European dream. The reason is that the EU did not create a harmonious free space. It should not surprise us if we will have a populist majority in the European Parliament in 2019.
There is only one way for the European Commission to prevent a wave of voices for populist parties – making EU law simpler and less costly (it was, moreover, the goal of the REFIT program). One quarter of European laws should be rejected and 50 percent of the remaining legislation should be discussed once again after a thorough evaluation of their impacts. Then Europe becomes – again – a free space for happy citizens.
