Europe's Zero-Sum DilemmaIssue: May-June 2012
EUROPE’S DEBT crisis is threatening a political order that has been built up over the course of more than a half century. It is still entirely possible—indeed likely—that the European single currency will not survive the crisis. Angela Merkel, the German chancellor, has predicted that if the euro collapses, the European Union will crumble with it. The destruction of the EU would, in turn, remove the organization around which postwar European politics has been constructed.