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Jan Ifversen

experience a merging of crises that each is taking on historical dimensions.” 3 When we speak of Europe, we mostly connect it with crisis—not one, but several: the euro crisis, the refugee crisis, Brexit, the crisis of democracy. Not only is Europe in

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Wolfgang Merkel and Jean-Paul Gagnon

(2007 pp.) and the Euro crisis (2009 pp.), the state became bigger because the state took over the debts of banks. Many governments, especially in Europe, thought or pretended to think “these banks cannot fail because they are too big to fail.” Indeed