Threatened by Italy and Brexit, the EU must turn the tide | Martin Kettle

We have come a long way since the Brexit referendum. With Italy in crisis, the EU needs to take a risk on real reform

George Soros is not exactly an insurgent leader from central casting, but you certainly can't fault the billionaire philanthropist for his frankness. "The EU is in an existential crisis," Soros said in a speech in Paris this week, before adding: "Everything that could go wrong has gone wrong."

With Italy compounding Europe's woes in the wake of the Brexit vote and the rise of rightwing populism more generally, it takes nerve to choose this of all moments to launch a fightback for Europe. Yet this is precisely what Soros proposes. There's an audacity about his approach that echoes the French general Ferdinand Foch's message to his commander-in-chief: "My centre is giving way, my right is retreating, situation excellent, I am attacking."

Related: Italy can't blame Brussels for its descent into the abyss | Phillip Inman

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