A vision for a Europe governed by rule-based order

Wolfgang Schaeuble resembled a commanding political figure in both Germany and Europe. It would not be an overstatement to assert that, for a substantial span of challenging years, the Eurogroup operated within the sphere of his influence - member-states actively sought his favor, aligning themselves with his policy initiatives.

In all fairness, Schaeuble harbored a visionary outlook at a time when numerous European politicians were complacent, epitomized by the prevailing attitude of "kicking the can down the road" that characterized an entire era. His vision extended to a politically united Europe, governed by a rule-based order. He recognized that these rules were not universally applicable, hence his recommendation of Greece "temporarily" exiting the euro. In reality, if Greece had exited the euro, it is likely that more countries would have followed suit, which he did...