Right now there is no trust binding together the original ideas of the European free trade zone. Without that commercial backbone, there can be no confidence in the future of Europe. … The truth is that as confidence has drained from the EU, now trust too is evaporating. The recent acts—whether enacted or not—in Cyprus has delivered a hammer blow to the credibility of Brussels as a trustworthy steward of anybody’s finances. Beneath a thin tissue of brazen statements of confidence there lie festering sores of economic mismanagement going septic as a result of previous poultices and treatments which are...