The German Rescue of the Eurozone: How Germany Is Getting the Europe It Always Wanted
THE EUROZONE CRISIS HAS CONSTITUTED THE MOST SERIOUS economic, political, and ideological challenge to the project of European integration since the founding of the European Economic Community in 1957. The European Union (EU) and the common currency have certainly been through swoons before, but the possibility of a member state giving up the euro as a result of either international economic pressure, a political backlash against the EU, or a combination of the two never looked as high as it did during several junctures between 2010 and 2012. That political forces in states with both good and bad credit ratings were threatening to exit the Eurozone was bad enough; that seemingly fundamental questions about the immediate future had no ready answers unsettled markets even further.CouldamemberstateleavetheEurozoneandstayamemberofthe