She can’t help it. Angela Merkel, chancellor of Germany, is the most important leader in Europe. She tries to duck it by exhibiting a modest demeanor, presenting no charisma, no grand pronouncements, no apparent ambition to stamp her views on history. She just carries on.
The world’s richest hedge fund manager, George Soros, says Europe’s great project, the European Union, is at risk. Even if it survives it is doomed, he says, to a period of stagnation and fragility, rendering it powerless on a world scene dominated by powerful blocs.
The European crisis isn’t over until the First Lady pays, and the First Lady of Europe, Angela Merkel, cannot pay enough. She needs to erect a large enough firewall to ensure that the European Union’s weaker members do not, again, face financial disaster. That will not happen – which means the euro faces at least defections, and perhaps destruction.