LONDON -- Europe's currency has never been stronger. The European Union has been portrayed as a "post modern" association of states that have moved beyond the use of force to a more rational organization of their relations. Though still hobbled by inflexibilities, its economies are forecast to show stronger growth this year than last.
But, despite such factors, the EU is in deep trouble. Failure last month to agree on a new constitution to come into effect when the community begins to grow from the current 15 to 25 members has highlighted the depth of the problem facing the EU. This has major implications for the rest of the world, suggesting that Europe will not be able to assume an international role commensurate with its size and economic weight.
At the same time, the insistence of France on pursuing a foreign policy that stands in contradiction to Washington can only perpetuate the trans-Atlantic strains that became apparent over Iraq. Meanwhile, the Continent is suffering from a leadership deficit that threatens to undermine planned efforts to broaden and deepen the EU.