Stability Has a Price
This paper argues that the European sovereign debt crisis is slowly turning into a euro crisis and, because of this, Germany has a responsibility to resolve it. As an exporting nation, the author explains, Germany is heavily dependent on stable economic conditions in Europe. For this reason, the long-term stability of the euro is in the country's best interests, even if this means making transfer payments to prevent the disintegration of the eurozone.
© 2012 Bertelsmann Foundation