In this interview before his debate with Will Hutton on capitalism and the financial crisis, Anatole Kaletsky discusses his views on the future of Europe, and why, despite Germany’s economic might and political machinations, he believes France will play the central role in a future, more federalised Europe. As governments take on more responsibility, but find themselves with less money to exercise these duties, Kaletsky outlines his vision of Europe as a much more complex and layered entity; unable to commit to full political and economic union, he explains why Britain will find itself hovering on the periphery of the Eurozone core, alongside states like Russia and Ukraine that are “too big to absorb and too big to ignore.”