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Crisis of the Eurozone Divided

Someone’s gotta give.

Dec 12, 2011, Vol. 17, No. 13 • By CHRISTOPHER CALDWELL
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In France, meanwhile, the Socialist presidential candidate François Hollande, who would drub Sarkozy if elections were held today, has had to warn his party against stoking anti-German sentiment. Arnaud Montebourg, the new leader of the left wing of the Socialist party, has complained that France is being subjected to a German “diktat.” The non-Keynesian Germans listening to Merkel came away with the opposite worry. They were unsettled when she confidently stated: “The present -crisis in the euro area is above all a crisis of confidence.” That is not what most German voters say, and they may take it as a sign that Merkel, faced with French demands, is going to fold like a cheap card table.

Christopher Caldwell is a senior editor at The Weekly Standard.

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