My thoughts on that subject are over at Business and Politics:

As we can see in the current case, Angela Merkel is grappling with the primitive logic of phony EU solidarity. She is trying to establish the proposition that in return for enjoying the benefits of German discipline in the Eurozone, other EU countries too must show something like that discipline.

If they can’t, well, they’ll just have to get poorer. A point she is communicating in plain language. And getting a disagreeable if not rude message back from central Europe – “Don’t try to stop our subsidies, or we’ll flood you with migrants!”

What we are seeing is a sandcastle dissolving as waves of reality splash up against it.

The European project and above all its Social Model – the idea that states can draw down Europe’s historic capital and simultaneously write blank cheques on the future to subsidise mass fecklessness today – is running out of road.

[Ooops – some mixed metaphors in there. Can a sandcastle run out of road?]

Which is going to be painful but on the whole healthier. If all goes well, we’ll get a new, simpler form of European integration based on honest mutual national interest.

A Conservative government should have no problem playing a full and creative part in that.