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By Philippe Legrain ADD COMMENTS

Germany’s economy is doing fine right now and it finally has a new government. So it’s perhaps understandable that it seems content to coast along. Why mess with an ostensibly winning formula? Steady-as-she-goes, business-as-usual Merkelism seems successful and safe.

Yet Germany is actually far more vulnerable than it seems. Europe’s export powerhouse has long been a free-rider on both the open markets and the nuclear security guarantee provided by the United States. Both of those are under threat from Angela Merkel’s ungracious host in Washington yesterday, Donald Trump. The crumbling of that liberal international order seems likely to make Germany even more reliant on the EU for its future prosperity and security.

Yet Merkel seems unwilling to make the short-term concessions needed to secure the longer-term stability and effectiveness of both the eurozone and the EU. This complacency is dangerously shortsighted — and a potentially historic tragedy for Europe. My latest for Foreign Policy.

Posted 12 May 2018 in Blog, euro, Europe, Foreign Policy, Germany

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