Guilt is both a reason, and an excuse, for German inaction

Every attempt to resolve a crisis that could push us into a second great depression is met by German prevarication.

GERMANY’S contrition counts for nothing. Let distress fall across the continent, and Germanophobia rises again. In Athens, street theatre companies entertain protesters with poisonous vignettes of German soldiers threatening Greek women and children. Even British supporters of the euro now worry about Frau Merkel replacing elected prime ministers in Greece and Italy with a snap of her fingers.

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