The need for shock treatment

摘要

What could be more pleasant than Barcelona in spring, with a stroll down the Ramblas or tapas by the port? Sadly, what awaits the EU'S leaders heading for their summit in Barcelona on March 15th and 16th is a lengthy discussion of electricity liberalisation in an airless conference room. And if that is not a gloomy enough prospect, there is more to cloud out any sunny optimism: the ten-year rolling programme of economic reforms that they unveiled with great fanfare in Lisbon two years ago is in deep trouble.