Why Germany Can't Save Europe, Much Less The World

With the euro-zone debt crisis worsening and more than a few angry voters at home, Angela Merkel is being squeezed on all sides

Photograph by Angelos Giotopoulos

Tens of thousands gather in Athens' Syntagma (Constitution) Square to protest the Greek government's austerity measures.

Harry Truman famously placed a plaque on his White House desk that read THE BUCK STOPS HERE. The motto was a pledge of the President's commitment to the U.S., an admission that responsibility for the country rested right there, in that office, on his head. Today, across the Atlantic in Berlin, German Chancellor Angela Merkel could well have a sign on her desk that reads THE EURO STOPS HERE. It's a problem for Europe and the world that she doesn't.

The fate of the euro and its promise of an integrated Europe--one that can strengthen rather than weaken the already precarious...

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