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.
Germany is the economic hegemon of Europe ‑ not a position it has sought, but a greatness thrust upon it by its own industrial efficiency and cautious financial policies. The weakness of (especially) the southern European states also helped, as did those states’ years’ long binge fueled by cheap credit that Germany, among other states, provided. Now, as with all binges, there is regret, huge headaches and New Year’s resolutions never to be much better in the future.
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.
Speak now to an intelligent European politician (having assured him or her that the conversation is off the record) and you will discover a deeply worried representative — and one who leaves you in a similar state. Whether they are in the European parliament or a national legislature, European politicians are now constrained to contemplate their powerlessness. And ours.