As far as turnarounds go, one remains unparalleled throughout the world. On May 8, 1945, when the Nazis surrendered, formally ending the Second World War in Europe, the continent was in ruins. Divided, distressed and in complete disarray, its largest countries — the UK, France, Germany and Italy — were all on their knees. The bloody war, which left up to 78 million people dead across the globe, had hit Europe particularly hard, with its economy and unity in shambles. But the picture changed rapidly. With the help of some generous fiscal assistance from the US, but more importantly due to proactive and progressive leadership in Europe, the sworn enemies of the past came together and took an oath never to let history repeat itself. Less than a decade after the surrender, Europe was already laying the foundations of what would become the EU, with the signing of treaties in Paris in 1951 and Rome in 1957. These brought the former enemies into a tight economic partnership, doing away with customs duties on trade within the community’s borders. Over the years, better integration and expansion, as new members, notably the UK, joined, led to a spectacular, almost unmatched, rise in the economic prosperity of Europe. The gross domestic product (GDP) per capita, which stood at barely $876 in the 1960s, is now more than $38,500. US GDP per capita was double that of Europe in the 1960s, but today many EU members have surpassed the US. Besides liberalizing trade within the community, the members also focused on building institutions and structures to ensure closer relations in all aspects — from common standards to joint research and development in key areas, including strategic ones, as exemplified by Airbus, the European military and civil aviation giant. To help the masses, the EU nations also adopted liberal social security systems that helped even the poorest gain proper access to the basic needs of a dignified life, including health care. This system, over time, became a role model for many other nations around the world. Meanwhile, the heft of the EU grew as it continued its expansion eastward, most notably after the end of the Cold War, when it absorbed many of the former Soviet bloc nations like Poland, the Czech Republic, Hungary and Romania. Today, with more than 512 million people and a total GDP of $18 trillion, or almost 22 percent of the world’s total, the EU is an important player in every aspect.The EU nations have also been proactively involved in development and humanitarian aid across the world, with overseas development assistance of approximately $85 billion in 2017, representing about 57 percent of the total global assistance. With the arrival of a common currency in 1999 and visa-free travel across most EU nations a few years previously, the union was indeed complete. It has become a role model for many other parts of the world, inspiring the creation of regional blocs like the Association of Southeast Asian Nations, the Southern African Development Community, and the Economic Community of West African States. What the Europeans have achieved over the last seven decades is even more impressive when compared to the relations between former enemies in East Asia. Japan, South Korea and China remain mutually suspicious and, even today, the wounds of the Second World War do not seem to have healed at all, as the issue keeps cropping up and leading to economic or political stand-offs between these countries. However, for more than a decade now, the EU has been at a crossroads. The 2008 financial crisis was the turning point, as it hit the EU hard and because the European Central Bank failed to react in time, unlike the US Federal Reserve, which saw the tsunami coming and loosened the supply of money to allow the economy to absorb the unprecedented shock. The crisis saw the economies of many EU nations, like Italy, Spain, Ireland, Greece and Portugal, crash. The financial crisis acted like a detonator and brought many issues to the surface. First, acerbic divisions saw the fiscally disciplined, but much better off, countries like Germany and the Nordic states blame the southern nations for their profligacy and spending beyond their means. Ties between Germany and Greece were especially hit as Athens was forced to adopt extremely strict, perhaps overly so, austerity measures that led to a sharp rise in discontent in the country. Discontent was not limited to these nations, but even spread to the relatively better-off economies like Germany, France and the UK. Most people turned hostile to the idea of taxpayers funding the bailouts of banks and other companies, whose executives paid themselves tens of millions of euros even as they led their ships to be wrecked. With the middle and poorer classes taking the biggest hit, issues like inequality and pro-rich governments began coming up. The flood of refugees from Africa and the Middle East, fleeing terrible wars there, proved to be the final straw for many. The discontent over inequality and immigration has led to the rise of extreme right-wing parties all across the EU; in several countries they are either the principal opposition or in government itself. It was also a key factor in the Brexit vote, with the EU becoming a favorite target in this condition. Today, the EU nations stand bitterly divided, unable to agree on a common course. And, in many nations, including France, the leadership stands undermined. Surely the EU can recover from this crisis, but it will need the same kind of visionary and stellar leadership that its politicians showed in the 1950s. Can today’s leaders measure up to their predecessors?