Europe not stumbling from crisis to crisis without learning: ESM Director

It is a mistaken view that Europe is stumbling from crisis to crisis without learning, the Managing Director of the European Stability Mechanism Klaus Regling said on Tuesday.

Actually, crisis has made the economy of the European Union stronger, Regling told an Economist Summit in Nicosia.

"It is a mistaken view that Europe is an unfinished project and that it malfunctions," Regling said.

He added that the prevailing pessimist view on Europe is exaggerated, the truth on the whole being that Europe is doing reasonable well.

He said EU has made tremendous progress since the crisis, though challenges remain that can be tackled in relatively small steps, in comparison to the huge leaps Europe has taken in the last six years. Endit