The German Rescue of the Eurozone: How Germany Is Getting the Europe It Always Wanted.

EUROPEAN Sovereign Debt Crisis, 2009-2018; ORDOLIBERALISM; MERKEL, Angela, 1954-; GERMAN politics & government, 1990-; FINANCIAL bailouts; AUSTERITY; MONETARY policy; PRICE inflation; EUROZONE economic policy; PUBLIC opinion; CONDITIONALITY (International relations); NEOLIBERALISM; FINANCE; HISTORY; TWENTY-first century; INTERNATIONAL economic relations

GERMANY; GREECE; EUROPE

The article looks at the eurozone sovereign debt crisis, focusing on the role of Germany in responding to the crisis in relation to the country's politics, government, and history. The author presents a case for the view that the crisis is not likely to lead to the collapse of the euro monetary union and that German Chancellor Angela Merkel's policies in handling the crisis reflect continuity with Germany's ordoliberal economic policy tradition. Topics include Germany's economic power within Europe, financial bailouts and the eventual requirement for private creditors to pay part of the cost of bailout, austerity economic policies, how ordoliberalism differs from neoliberalism, monetary policy and inflation, and German public opinion.