by Edward Hugh: Barcelonabr /br /br /Wolfgan Munchau a href=”http://www.ft.com/cms/s/0/c94ac804-fb62-11dd-bcad-000077b07658.html?nclick_check=1″was complaining only last weekend/a about the extraordinary narrow-mindedness of Europe’s economic and political leadership in the face of the current financial and economic crisis, from Ireland in the West to Hungary in the East, and from Greece in the South to Sweden in the North. But more than narrow mindedness what we are faced with is innocence and inability to react, and frankly I am not sure which is worst. I say “innocence” because it is by now abundantly clear that they simply haven’t yet grasped the severity of the problems we face (in countries like Spain, or even Germany itself, let alone in the East), and I say inability to react, since they are always and forever moving too little and too late. The initial response to the banking crisis last October was one example (where we saw a …