Saturday, March 17, 2012

Germany Overcomes Its Reluctance to Lead

With news that Angela Merkel is pressing her finance minister, Wolfgang Schäuble, to assume the chairmanship of the Eurogroup, as the collective gathering of 17 Eurozone finance ministers is known, it is apparent that Germany is overcoming any reluctance to assume a public leadership role in the resolution of the euro crisis. To be sure, Germans haven't been exactly bashful to date, but it has been said that Germany preferred to "lead from behind," to borrow a phrase, because it didn't want to arouse undue resentment in smaller states by throwing its weight around. Meanwhile,
France outraged other shareholders in the bank this last week by making a move to install its own candidate at the top of the bank, according to two people briefed on the matter. That prompted Britain and Poland to nominate their own candidates.

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