Exclude Germany to save the euro

Despite their demonstrative consensus Paris and Berlin do not share a common vision of Europe, the conservative daily The Times writes, naming Germany as the biggest obstacle on the path to more European integration: "German politicians have argued that countries that cannot pay their debts should be expelled from the euro - but why not turn this around and expel Germany? Given its lack of solidarity with other Eurozone countries, Germany could be politely asked to leave. Or the decision could be triggered by a political revolt or court decision within Germany if the other euro members override its objections and force the ECB to buy vast amounts of Italian and Spanish debt. Germany would then issue a new mark and other countries would have a simple choice: follow Germany out of the euro or continue in a smaller French-led group, similar to the Latin Currency Union."

» full article (external link, English)
More from the press review on the subject » EU Policy, » Fiscal Policy, » Economy, » Germany, » France, » Europe
All available articles from » Anatole Kaletsky

» To the complete press review of Monday, August 22, 2011