A correction in economic cycle: EU solidarity may come at a high price

Even if last week’s stock markets stumble was just a punctuation mark in the boom-to-bust cycle it was a reminder, to borrow a phrase from another recurring nightmare, that “they haven’t gone away you know”.

That our economic stability, our capacity to evolve as a society, is so tied to the moods of the markets seems a remarkable concession, even if a plausible alternative seems remote.