To acknowledge that the eurozone can function only on a foundation of solidarity and interdependence would be to engage in precisely the kind of thinking that German ordoliberals have always rejected. But, as French President Emmanuel Macron well knows, that is precisely the kind of thinking Europe needs today.
PARIS – Europe has a new German problem. Unlike in the past, it stems neither from hegemonic ambitions nor from the sort of weakness that might tempt aggression. Instead, it is rooted in Germany’s abdication of any sense of shared responsibility for Europe, despite boasting as robust an economy as it has had since 1945. The result of Germany’s approach – “do as we do, or leave us alone” – is inertia, at a moment when Europe desperately needs momentum.
PARIS – Europe has a new German problem. Unlike in the past, it stems neither from hegemonic ambitions nor from the sort of weakness that might tempt aggression. Instead, it is rooted in Germany’s abdication of any sense of shared responsibility for Europe, despite boasting as robust an economy as it has had since 1945. The result of Germany’s approach – “do as we do, or leave us alone” – is inertia, at a moment when Europe desperately needs momentum.