The Populist Tail Wagging the German Dog
Despite a growing chorus calling for reform of the eurozone and the European Union, the chances for meaningful change are diminishing. The main obstacle is Germany, whose economic interests lie not just with the status quo, but also with some of the populist governments that EU reformers must rebuff if they are to succeed.
WARSAW – Initially, the big losers in Germany’s federal election in September were a Frenchman and a Luxembourger: French President Emmanuel Macron and European Commission President Jean-Claude Juncker. Each has his own plan for reforming the European Union, and both envision deeper integration, starting with the eurozone.