When Mike Campbell is asked in Ernest Hemingway’s The Sun Also Rises about his money troubles, he vividly describes how one becomes bankrupt: “Two ways. Gradually, and then suddenly.” The same is true in banking and in politics. Both are in mortal fear of a run on themselves.
While the Eurosceptic parties did not prevail, their strong showing in the 2019 European Parliament elections is a signal that the risk of the EU’s run on itself is not over. As I watched the lead-up to