For the past few weeks, Europe has been preoccupied with a possible French No vote in the May 29 referendum on the European constitution. But what about the consequences of a French Yes?

Without the constitution, the European Union will be at risk of fragmenting into separate blocks. With the constitution in place, the EU will stay formally united, but will still have to find a way to overcome its internal divisions. Of those, none is bigger than the gulf between advocates of a free market economy and their opponents.