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Sunday, February 19, 2012

The European project is splitting apart at the very core - Telegraph

The European project is splitting apart at the very core - Telegraph

What makes this moment so significant is not just that the disintegration of the eurozone will be by far the most serious check to the hitherto seemingly irresistible drive for “ever closer union”, but that it marks the rending apart of that Franco-German alliance which has been seen, ever since the Elysee Treaty of 1963, as the central “motor” of European integration. As the slow-motion crisis inches towards breaking point, France and the European institutions are on one side of an unbridgeable divide, and Germany and its increasingly restive people on the other. The latter see that the gamble of the euro has failed just as dismally as the Bundesbank had warned it would back in the 1980s – before being ruthlessly outmanoeuvred by Jacques Delors and Helmut Kohl.

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