No so long ago, France was the political driver and Germany the economic motor of the European Union. "Now," remarked former European Commission president Romani Prodi in February, it is Merkel "that decides and Sarkozy that holds a press conference to explain her decisions." This searing image could be embellished with the 24 EU members cowering in the press room -- and Britain now watching through the window.
Now that Britain has sidelined itself from the historic "fiscal compact" concluded in Brussels on Dec. 9, which provides the EU with new powers to enforce stricter discipline in national budgets, the community appears even more fiercely segregated within its own ranks. Pathetically, the Brits walked not because of the starkly deficient democratic procedure or the fact these governance changes wouldn't adequately address the euro quagmire, but rather to protect London's financial services industry from regulations that were part of the deal.
This isn't the way European Union was supposed to work, not at all, and Germany's one-woman show -- ostensibly in Europe's name -- could well doom the continent's beautiful project. Merkel may look like the big winner today, seemingly with Europe at Germany's feet, but this turn of events could well prove to no country's detriment more than than Germany's.
"The prospect is of a joyless union of penalties, punishments, disciplines and seething resentments, with the centrist elites who run the EU increasingly under siege from anti-EU populists on the right and left everywhere in Europe," wrote the Guardian's Ian Traynor.
Merkel's short-sighted, audaciously Germany-first reaction to staunch the eurocrisis is the Germanization of European monetary and fiscal policy, foremost the codification of its obsession with tight money, fiscal purity, and budgetary orthodoxy. In spite of all evidence to the contrary, she insists that what's good for Germany is good for everybody else, too. It's clearly not. And with the world's leaders begging her to do "whatever it takes" to stave off global calamity, she's doing it with Sarkozy at her side and over the heads of the now completely irrelevant European "voters" ("subjects" is the more fitting word). This is a catastrophic mistake, which, politically, vastly expands the EU's centralized authority while robbing it of even the fig leaf of democratic legitimacy it had sported. Moreover, the economics of Berlin's Germanocentric prescriptions for the eurozone compound the very problems that landed Europe's weaker economies in the mess they're in right now.
by Paul Hockenos, Foreign Policy | Read more:
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