Germany Calls the Shots
The crisis in Cyprus has taken a nasty turn, but it will not wreck the euro. Chancellor Angela Merkel will simply not allow it to happen. For Germany the euro is the goose that lays golden eggs. It has allowed Germany to accumulate more than €1 trillion in trade surplus with other E.U. countries in a little more than a decade. Germany will not let the golden goose die.
The European sovereign debt crisis has fundamentally changed Europe’s geopolitical map. Instead of Europe being divided into West and East as it was during the Cold War, the Continent has become divided into a relatively prosperous North and a chaotic South.… Seguir leyendo »