Arrogant Germany and fearful France tearing euro apart
By Ambrose Evans- Pritchard
Last Updated: 1:03am BST 16/07/2007
It's back to Verdun. France and Germany can no longer share a currency, or an aviation industry for that matter. Reverting to historical patterns of behaviour, they are each embarking on policies that must lead to bitter conflict and endanger monetary union.
French president Nicolas Sarkozy is at root an anti-globalist, champion of a weak euro in a trade bloc shielded by "Community Preference". He is letting rip on fiscal policy, gutting the EU's revamped spending rules.
German Chancellor Angela Merkel - a Baltic PhD physicist and daughter of a Lutheran pastor - is the white angel of orthodoxy. She will sooner break EMU than allow a resurgent Germany to succumb to wage and price inflation..........................