Daniel Cohen on the Euro crisis
This brilliant and informative column appeared in Le Monde on the weekend of June 23/24. Translated by Tiffany Reed and Jackie Kemp
A few days before the European Council of June 28 and 29, the Franco-German discussion is becoming a dialogue of the deaf. The French want to strengthen economic union, the Germans want progress on political union. Neither can hear the other.
The Germans understand the French proposals as a new version of the slogan "Germany will pay", which reverberated through French politics after the First World War; the French see political integration with Germany as handing over the right to inspect their welfare system.
The lack of mutual understanding is actually a symptom of the underlying problem. The euro is rudderless, a currency union adrift.