European Commission Hamstrung by Lack of Vision

In this piece for the E!Sharp website, I argue that the European Commission is not so much to blame for its decisions (or lack thereof) since the start of the crisis, than it is at fault for not providing a vision of Europe's financial system to other policymakers and the public. The lack of long-term direction is a particularly severe shortcoming in a time of turmoil, which creates so many opportunities for policy mistakes.