"Today, a lack of political courage is endangering the euro. Germany is not innocent in this regard. For the first time in decades, German isolation has become a real concern. Now we need a signal that Germany wants a more European Germany, rather than a more German Europe."
The above was published in The Financial Times today by former Merkel coalition partners Frank-Walter Steinmeier, foreign minister, and Peer Steinbrück, minister of finance. In other words the SPD is attacking the ruling CDU coalition by being decisive on Europe. I'm getting a feeling that the future of EU is being decided in a current debate in Germany.
If a state in the US is doing well, my guess would be that others tries to copy their way if the character of their states allows this. This would speak for a more German Europe. However, the above authors argue for a more European Germany? The populace in Germany seems to say that they don't want to pay for others any longer. Interviews advocating this way was recently aired on Swedish television from Germany and the debate turned vicious during the Greek bailout crisis this spring.
Sweden is also a net contributor to EU and a surplus country highly dependent on exports. We lack a debate such as the one in Germany on whether or not we want to stay in the EU or break away. Perhaps because we are not members of the EMU but we are still involved and will definitely be involved now when tighter control and federalization is being performed on the EU.
There has been a continuous debate in the press lately with an overweight on federalization since the original critique of the Euro was that a lack of a political union would make the currency impossible. Wolfgang Schäuble, the current minister of finance in Germany recently said that there will be something like a political union in ten years time. Markets are apparently waiting for a "signal" of political will. How will other countries than Germany interpret such a signal? Is such a signal in reality possible?
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