'Germanising' Europe

Europe has lurched from a small crisis to a bigger one to a still bigger one. No one can say any more whether the euro or even the European Union will survive unscathed. But consider the subtext of events, and another question poses itself: will the crisis do good to Europe? That might sound like a question from Mars, given the trauma that Greeks are undergoing, the crisis that confronts Italy and the uncertainties about France. But for all that, there is a possible upside; the crisis has served as a wake-up call and heralds a return to cold economic realities. If collapse can be avoided, and political convulsions prevented (admittedly, both are big ifs), sweeping reforms will get under way and could work wonders.

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