June 22, 2012

Germany Shouldn't Pay Everyone's Debts

Josef Joffe, The Guardian

AP Photo

Kaiser Bill would approve. A hundred years after he tried and failed, his heirs, a woman on top, have achieved mastery over Europe. And without firing a single shot – what an irony. Those nice pacifist Germans who refused to bomb Libya and to join the war against Saddam Hussein, who now polish their BMWs instead of their jackboots – these predators-turned-pussycats are now credited with fabulous, indeed planetary, power. A recent cover of the Economist says it all. It shows a sinking tanker labelled "The World Economy", with a voice from the bridge pleading: "Please can we start the engines now, Mrs Merkel?" Not just the European, but the global economy! American commentators even fantasise that the German chancellor has it in her hands to call the US elections in...

Read Full Article ››

TAGGED: Eurozone, Angela Merkel, Germany

RECOMMENDED ARTICLES

June 15, 2012
It's a Poker Game, and Merkel Will Win
David Blair, Daily Telegraph
With 60 per cent of Germans believing Greece should leave the euro, the Chancellor will not be swayed from her dogmatic attachment to budgetary rigour. more ››
June 22, 2012
Merkel's Next Step: Shock and Awe
Bloomberg
Ahead of meetings of European Union leaders this weekend, investors are looking for any sign of movement toward a bolder policy on the economic crisis. Expectations are inching higher -- which is good, because Europe’s... more ››
June 10, 2012
Germany's Obstinate Chancellor
The Economist
When it comes to the euro, the German chancellor prefers self-help to help - but she can be more flexible than she seems. more ››
June 20, 2012
The Greatness of Angela Merkel
Jacob Heilbrunn
Poor Angela Merkel. She keeps getting bashed as the incarnation of all that is wrong with the German approach to Europe. The New York Times, for example, explains in an editorial that her approach is "piecemeal" and driving the... more ››