Future of the euro depends on just how much Germany cares

A LOT of shadow boxing goes on in the EU.

Sometimes it’s necessary to bridge the cultural and linguistic gaps between people, occasionally for domestic as well as European politics. We’re witnessing a 15 rounder at present, ahead of the wording for the new treaty.

The European Parliament’s involvement has meant greater openness on the draft treaty than heretofore. They may not have a veto over the wording — this will be an intergovernmental agreement — but they do exercise a considerable amount of power.