Europe has fallen into the trap of legal formalism. Ignoring mistakes is paralyzing the economy

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Europe has fallen into the trap of legal formalism. Ignoring mistakes is paralyzing the economy

The European Union is built on rules - they are supposed to protect fiscal stability, ensure a level playing field and promote sustainability. Yet there are situations where the same rules are either bent or inexorably lead to economic distortions. Two examples - the Italian Superbonus and the Dutch housing affordability crisis due to nitrogen emissions regulations - show how in one case a failure of supervision has enabled a budgetary disaster,…