Breaking German taboos

German Chancellor Angela Merkel is under enormous pressure at today's EU summit, the left-liberal daily El País notes: "Time is running out, and the room for manoeuvre is diminishing. The time is coming, perhaps today, when the fate of the euro will be sealed. It depends on Angela Merkel, the most powerful but also the most stubborn woman in the world. She has been dragging her feet for 18 months now, resisting the logic that she herself has defended: if the euro falls, Europe will fall along with it. There can no longer be any doubts regarding the Greek debt crisis: the labyrinth into which we have plunged, guided by Germany's growing aversion to European integration, has only one exit: more European integration. Even if it means breaking with the German taboos forbidding anything that would turn the EU into a transfer union, be it by bailing out insolvent countries, creating eurobonds or having the European Central Bank purchase devalued debts."

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