It’s the economy, stupid (J. Carville)

The European Parliament today re-elected Juan Manuel Barroso as president of the European Commission. Barroso, the former prime minister of Portugal and the outgoing Commission president, received 382 out of 736 possible votes, or 51.9% of possible votes. Barroso ran unopposed.
The re-election reportedly brought stability or continuity to EU institutions. That’s a bit premature. After the defeat of the European Constitution in 2005 –at the beginning of Barroso’s first term– European leaders drafted a lighter, consensual convention, the Lisbon Treaty. Ireland voted it down once, and will vote on it again October 2. The Czech Republic, Poland, and Germany still have to ratify it. The conclusion: viewed from mid-September, institutional stability still seems conditional and just over the horizon.
Barroso has not yet shown himself up to the challenges faced by Europe’s economy. He’s muddled through, but hasn’t drawn economic thinkers into his orbit or proposed bold visions for the future. (Or, if he has, he hasn’t brought them to public attention.) Barroso hasn’t yet shown himself capable of presenting alternatives proposed by various member states, in order to seek consensus or debate from which a common approach could emerge.
The European Union’s economic situation is troubled. The European Commission, earlier this week, released a forecast on economic growth, expected to be – 4%. (In other words, the economy will shrink, not grow, in 2009.) And the latest figures, for the month of July, show unemployment in the Eurozone at 9.5%, with more than 15 million Europeans jobless.

