Gideon Rachman makes a lot of sense when he cautions against isolating Germany. The law of unintended consequences will very much be at work, for all the wrong reasons:
As a senior Dutch politician who shares the German view, puts it: “We cannot push through a banking union when the French have just cut their retirement age to 60 and we have raised ours to 67.”
Of course, it does not prevent ‘Economist’ from writing a leader article that is marked for its intellectual laziness/sloppiness.
It is not easy to bring about fiscal, banking and political unions in Europe. Probably, Germany should choose to ‘isolate’ itself.