Does Germany sincerely want to be in Europe? I pose this seemingly silly question because, as has long been apparent, Europe’s fate lies in that country’s hands. As the great engine room of the European economy, it has the power to save or break the euro. Rather than engaging in hollow threats to expel offenders, Germany could choose to stop inappropriately imposing its own monetary disciplines on others, and leave the euro itself. In the spirit of altruism, this might indeed be the best thing it could do for its fellow Europeans. Yet torn between two constituencies – a policy elite that remains wedded to discredited ... (full story)