Understanding how Berlin thinks is now more important than ever. If EU leaders want Angela Merkel to listen to calls for growth, they first need to understand her economic mindset which is deeply rooted in a concept known as 'ordoliberalism'.
The thinking behind Germany’s unpopular approach to the crisis
The ECFR Scorecard 2012 shows that Europe's power is waning – and if the continent doesn't get its act together soon, it could put the global order in serious jeopardy.
The lack of a defined European response to the current crisis is forcing EU member states to renationalise their own foreign policy, rather than forge common positions. This new age of geoeconomics carries a hidden cost for Europe in the long run.
Merkel’s recent visit to China was meant to assure Chinese risk-averse leaders that Europe is back on track. But the visit was also a part of the mosaic that makes up European foreign policy towards China.
As part of the ‘Reinvention of Europe’ project, ECFR is publishing a series of papers on the national debates within EU member states about the crisis and the future direction of Europe. The first paper in the series examines the Polish situation.
From our Reinvention of Europe series of National papers
The financial markets have repeatedly shown their distrust in the long term sustainability of European Monetary Union. Confidence desperately needs to be restored, and that means rapid and credible agreement on measures that include a more integrated political framework.
With Europe and much of the West facing a seemingly painful decline, attention continues to shift to the BRICS and the world's other rising powers. But are these countries overplaying their hands as the cracks begin to show in their economic virility?
Germany's minimalist approach to fixing the eurozone crisis is not only leading to ever more bailouts. It is also harming the rest of the eurozone because Germany's 'ordoliberalism' is too inflexible to provide a coherent answer to the crisis.