To rule the eurozone

Press quote (Newsweek)
23 January 2011

"Decisions on whether the economies of Greece, Ireland, Portugal, and Spain survive or collapse — indeed, decisions about the future of the euro itself — are made in Berlin more than ever", says Charles Grant, director of the London-based Centre for European Reform (CER). "Everything depends on Germany now Europe is dancing to Germany's tune. Germany has the largest and strongest economy, the deepest pockets, and the most solid AAA credit rating of any major European economy. Even Europe's No. 2, France, is judged by bond markets to be a potential problem. Germany is so pre-eminently powerful now, economically and politically, that it's changing the EU Germany has become much more assertive of its own interests."