This is CBSI on the world.

I'm John Batchel with Anatole Levin at the Quincy Institute for Responsible Statecraft.

He's in Europe, and I look upon Europe's future.

Anatole, a column by op-ed in the FT several days past,

Christine Lagarde, the central banker for the Eurozone,

mentioning that Europe needs credibility in order to

participate in global affairs, especially a global euro, she called it, which would be the

second choice of people for transactions around the world, not replacing the dollar, augmenting it.

That's her presentation.

And she said three things were necessary to create

the conditions for a trustworthy global euro. One is institutional and legal integrity. Two is economic

growth. And three, most important, actually she should not, she put it number one, geopolitical

authority. By that she means defense. Is Europe looking again seriously at developing its own defense mechanisms? That means not five anti-aircraft systems. What? That means not five tanks, but one. And a central command that rotates something like NATO without the US.

Is that a credible choice in this upcoming NATO meeting in New York?

I doubt it to be honest, John.

I mean, they are talking about rearmament, and they will, you know,

they will rearm to a considerable degree.

But the issue of, you know, who produces what,

and therefore who doesn't produce certain things, is going to be hideously complicated. And as far as

I can see, they haven't even really started talking about it yet, because it is so complicated.

But also, they promise their populations that

this is going to re-industrialize. Well, that is not going to be very convincing if the first

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