Few Alternatives for Germany
Europe heaved a sigh of relief with Angela Merkel’s reelection as German chancellor. She has been a key support during the eurozone’s fiscal-financial problems, and all of Europe knows how important Berlin’s support will remain going forward. Of course, Merkel has yet to settle on the specifics of her coalition government. On Wednesday the Green Party announced that it will end unprecedented talks with the Christian Democrats and not serve as a coalition partner. Now a Grand Coalition with the Social Democrats looms. If the German media are right, a lot of compromise will go into that effort. But even with all the prospective political give and take, Europe can count on future German support. Economic and financial imperatives will compel it. Even if the vote had gone less well than it did, the country simply is too tied to the euro and the union to turn away. Berlin may negotiate its best deal, but it knows that if it were to let the common currency fail, even in par...