The Accidental Empire
Germany is likely to do what is necessary to preserve the euro – but nothing more – resulting in a German-dominated eurozone in which the divergence between creditor and debtor countries continues to widen. The EU would then become a German empire with a permanently depressed peripheral hinterland in need of constant transfer payments.
https://prosyn.org/gZozPUG
NEW YORK – It is now clear that the main cause of the euro crisis is the member states’ surrender of their right to print money to the European Central Bank. They did not understand just what that surrender entailed – and neither did the European authorities.