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Chancellor Angela Merkel was a lone skeptical voice on the bailout in Cheap Tiffany Earrings councils, an unusual position for a German leader. She had her public behind her. Germans no longer feel obliged to pay for the sins of their forefathers by bankrolling Europe. But the responsible side of the Cheap Tiffany Cuff Links character also looks in horror at the spendthrift ways of the Mediterraneans. Other northerners share their unease and were happy to hide behind the initial Merkel nein. This may at the same time be a last nail in the coffin of the Franco-German alliance. Once the cornerstone of the postwar Cheap Tiffany Bracelets order, it sputtered this past decade. Ms. Merkel never got on with President Sarkozy, yet in recent weeks Berlin and Paris openly bickered over their own economic policies, never mind the Cheap Tiffany Bangles bailout. Europe has few good leadership options. No one at the EU in Brussels stepped up. Ms. Merkel is the natural candidate, but by temperament she prefers to lead from the back. Charles Grant, the founder of the Center for European Reform, is a perennial fount of intelligently argued and realistic eurooptimism. "The EU is falling to pieces," he now says. "The longterm effects of this crisis will be with us for many years." Southern Europe's economies look condemned to depressed (or negative) growth, difficult measures to rein in public debt, and street unrest and strikes. The social mayhem in Greece offers a preview.
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