Word: euro
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...Greeks who are expecting this change or the international community? Both, I think. First of all, the international community because in a sense in the European Union we have become a test case of both the euro - its survival - and how to deal with this high deficit in a time of crisis. It's not only a Greek problem. Our bad ways, if you like, or our difficulties or our wrong decisions, have exacerbated the problem of the international crisis in Greece. (Read: "Germany: Tensions...
...this current crisis just been a bump in the development of Europe? Some more cynical analysts have said, this shows the European project is flawed and the euro is doomed. It could have become a crisis - which would have, I wouldn't say Europe would have imploded, but it could have created sort of an unraveling effect. I think what Europe has been able to do over the years is as it's hit crises, it's been able to creatively become stronger, to use the crisis as an opportunity and that's what I've said also...
...driving to parties, which, it turns out, is actually the way the Bible suggests. So I decided to tack on a second 24 hours. And other than a few urges to hit the computer to add a movie to my Netflix queue and find out if Switzerland uses the euro, I didn't miss it. Sure, it's a little boring to drive without texting, but I got to focus on driving really fast. And the day felt longer, with that slow, easy laziness you get only on vacation or Vicodin. (See 25 websites you can't live without...
Nothing could be further from the truth. Assertive Angie is no Kaiser Bill. Nor is fiscal probity anti-European - quite the contrary. Article 125 of the Lisbon Treaty, Europe's quasi-constitution, forbids bailouts for the reckless. Moreover, in the last few months the euro has lost more than 10% against the dollar, and the fiscal chickens have come home to roost. The central problem - as critics of the euro predicted before the currency's launch - is not Germany's tightfistedness; it is a common monetary policy without a common polity that sets fiscal policy. (See pictures of immigration...
Still, let's not praise Merkel the martinet too much. She has not acted out of pure selflessness. As the richest nation in Euroland, Germany would have had to pay the largest share of the bailout. And if the euro careens out of control, Germany would end up as the biggest loser. With the euro derailed, the new deutsche mark would be everybody's darling, driving its value up - not a cheery prospect for the world's second biggest exporter. (See video: "Globabl Business Trips: Germany...