At each stage of the euro crisis during the past two years, Chancellor Angela Merkel has seemed to do the absolute minimum needed to keep the single currency together – but no more. This minimalist approach to the euro crisis may have ultimately cost Germany more in terms of bailouts than it would have if it had acted sooner and more decisively. On the other hand, it has kept inflation down and the euro weak – both of which are good for German exports. In fact, a cynic might say the current situation – a weak but still existent euro – is ideal for the Germany's export-driven economy.
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