Europe’s Debt Crisis: Five Ways It’s Been Put to Good Use

Europe’s debt crisis often seems like a giant snowball accelerating down a hill: with each rotation, it picks up more destructive power. But, in fact, stepping back from the crisis provides quite a different view: lasting transformation that will—in the long run—strengthen the 27-member European Union as a whole, and the 17 nations that share the euro currency.

In five critical ways, the debt crisis and the ensuing reforms will make the European Union far better equipped to face long-term political and economic challenges.