Saturday, June 09, 2012

A Game of Euro Chicken

French foreign policy has always been plagued by an obsessive fear of German hegemony over Europe -- and the euro was supposed to be the way to prevent it. It's well-known that French President Fran├žois Mitterrand made his approval of German reunification contingent on German Chancellor Helmut Kohl's acceptance of the common currency.

Seen in this light, the process of communalizing the debt of the EU's members states brings to full circle a project that the French have always viewed as something directed more against Germany than at uniting the Continent.

How Germany's EU Partners Are Using Blackmail in the Euro Crisis - SPIEGEL ONLINE

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