Publication

This paper discusses the role of Germany in the eurozone crisis. Germany has called for greater fiscal integration, but the author suggests that an out-of-treaty solution to the crisis may need to be found first. The author suggests that despite international pressure on Germany to accept a common debt guarantee mechanism, Germany’s focus remains on imposing a more law-based structure on the EU. Reasons for this include Germany’s lack of trust of southern EU countries and a focus on low inflation.