Wednesday, March 4, 2009

We are not alone....

From iht.com

France and Germany at odds on budget deficits at a crucial time

n the past when the European Union was paralyzed by a crisis, France and Germany would come to the rescue. Their leaders have not always seen eye to eye, but over the decades they have generally found compromises that have kept the European integration project alive.

Now, with the financial crisis showing no signs of bottoming out, the opportunity for Paris and Berlin to promote unity should have been ideal. Instead, they have adopted opposing approaches over how Europe should respond to the global meltdown.

The thrifty northern countries applaud Merkel's policies; the profligate southerners scoff at her parsimony. Berlin, now more than ever, is conducting its economic policies according to its perception of its national interests. The effect is to deepen the fissure that divides Northern and Southern Europe.


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