The eurozone has a choice: Split up or die Daily Mail
It would involve the Germans accepting a cost comparable to
that of the reunification of their country in 1990 after the fall of the
Berlin Wall. It could be done, but the price would be too high.
Yet this is the situation that seems to be looming. The only
person who is optimistic is Italy's Prime Minister Silvio Berlusconi,
and no one is convinced by his reassurances.
He says: 'We are in the
front line of this battle... We have to eliminate any doubts over the
efficacy and credibility of our budget.'
The markets, however, have fixed their attention on the
potential growth of the Italian deficit - and they have come to the
conclusion that German public opinion will make it impossible for the
German government to come to the aid of Italy. It is simply too big a
potential liability.
This, after all, is what Chancellor Angela Merkel has been saying for many months. The German public had no desire to abandon the Deutschmark when
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