“BERLIN ADDS HITCH TO CRISIS” (September 25, 2012)
Thus The Wall Street Journal today. “Progress on containing the crises in Greece and Spain faces holdups in Germany, where Merkel is reluctant to ask parliament to vote on measures that are likely to raise fierce opposition from within her own coalition,” explains the newspaper. Indeed. But how likely are Greece and Spain to thrive without holdups in Germany? Zilch, I would say. This holds for the eurozone as a whole, as well. In short, Germans are right to offer fierce opposition to the euro’s clueless but costly rescue, within or without Merkel’s coalition. Across much of southern Europe, Germans are already perceived as the bad guys. Without them, everything would supposedly be hunky-dory. Another hitch will thus not add much to that perception. It is only a question of time before Merkel and her coalition go under, though. Once they are gone, Germans will force the new government to pull the plug on the euro. The sooner this happens, the better. Go Germans, go!