En mycket viktig artikel om Grekland, Tyskland, EU och EMU

Should Germany bail out Club Med or leave the euro altogether?

Germany faces a terrible dilemma.

Either Europe's paymaster agrees to underwrite a Greek bail-out and drops its vehement opposition to a de facto EU economic government, treasury, and debt union,

or the euro will start to unravel,

and with it Germany's strategic investment in the post-war order.

Ambrose Evans-Pritchard, 31 Jan 2010

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