The Coronavirus Crisis Has Exposed Germany’s Ambition to Take Control of the EU (Part 2)
Germany holds the keys to a smooth economic recovery for the entire European Union, but stubbornly refuses to open the door. Merkel refuses to pursue a different policy, such as easing European debt or creating bonds. This will breathe new life into its European Union partners but has the risk of losing total control of the alliance. Berlin is taking advantage of all the privileges as the dominant force in the European Union and is suffocating the rest with its choices. Things, however, are now marginal, and the decisions Merkel makes may lead to the disintegration or weakening of the European Union project.
As the times are crucial with the coronavirus smashing international economy, Merkel must listen not only to her own constituents, but also to the rest of the European Union. Most countries in the European Union are far more damaged by the pandemic then Germany. She must stand up to the circumstances and realize that without a change of policy, the European Union is doomed as countries will begin questioning whether following Britain’s example of leaving the alliance might be in their best interests. What needs to be done now is to take drastic economic decisions that strengthen solidarity and, above all, growth for all.
So, Germany has some decisions to make.
Germany should give institutional priority to the European Stability Mechanism, which provides financial assistance, in the form of loans, to eurozone countries or as new capital to banks in difficulty. This could be a challenge though as Brussels has strong reservations about a Eurobond, and it could weaken Germany’s domineering position over the European Union.
However, if Merkel does not act in the interest of all European Union countries, she is only opening the door wider for other states to fill the void left. Trump might pursue a path of deepening U.S. economic isolationism, which means China could use this as opening to penetrate deeper into the European Union.
Continued to part 3…
- Source : Paul Antonopoulos
