3 Items

Journal Article - Quarterly Journal: International Security

Correspondence: Debating the Sources and Prospects of European Integration

| Summer 2012

Ulrich Krotz and Richard Maher, David M. McCourt and Andrew Glencross, Norrin M. Ripsman, Mark S. Sheetz and Jean-Yves Haine respond to Sebastian Rosato's spring 2011 article, "Europe’s Troubles: Power Politics and the State of the European Project."

German Chancellor Angela Merkel arrives at an EU summit in Brussels, Dec. 8, 2011. During a 2-day summit, Merkel and French President Nicolas Sarkozy will try to build support for eurozone states to submit their national budgets to much greater scrutiny.

AP Photo

Analysis & Opinions - Foreign Policy

The EU Summit: Will the Center Hold?

| December 8, 2011

"The divide, as usual, is between France and Germany over monetary policy. The French, along with their southern European allies in Greece, Italy, Spain, and Portugal, favor easy money, while the Germans, along with northern Europeans in the Netherlands, Austria, and Finland, insist on a tight money policy. Any hint of German capitulation to French demands of easier money will be the end of the euro. The first sign of wavering, the first inkling that a compromise is afoot, will signal to the markets that the floodgates for a river of euros are open, that fiscal and monetary discipline are history, that inflation will be rampant, and that the euro will be worthless."