Merkel fakes European spirit

German Chancellor Angela Merkel has said ahead of the EU summit that "the euro is our destiny". But she is only pretending to be committed to the single currency, the business paper Il Sole 24 Ore complains: "Strong words, which however belong to the past when Europe was still a passion. They show that the euro crisis continues and that the domestic difficulties the German Chancellor faces in overcoming the crisis are just as great as the problems in her dialogue with her European partners. The latter are disappointed and annoyed at the arrogant, know-it-all yet inefficient German-French power axis. ... Frau Merkel's hope that the new crisis mechanism will mollify the financial markets and rid her of the problem is an illusion. For everyone, and not just the market, knows that 2013 is too far away. The problems must be solved today, they can't be postponed any longer. Merkel knows this, too, but ... simply because she is unsure of obtaining approval in her own country she rejects both the proposals to increase the euro rescue fund and to introduce joint euro bonds."

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