Has the European experiment failed?

BEST OF BNN: Europe's sovereign debt crisis has shaken the world's largest political and economic union to its core. Can the federal institutions and shared values of Europeans meet the challenges of the debt crisis? Or, are Europe's current woes indicative of a series of deep structural faults that will doom the European Union to break up?

Headline's Howard Green asks Harvard History professor, and best-selling author Niall Ferguson and Peter Mandelson, former EU Commissioner for Trade and a Member of the House of Lords, to weigh in.

For more on the Munk Debates, click here.