Newsweek - National News, World News, Health, Technology, Entertainment and more... | Newsweek.com

Why It Matters

SPONSORED BY
Full Post
Posted Friday, December 12, 2008 5:21 PM

Sarko and Merkel Discover That They Need Each Other

Newsweek

By Clare Premo

While the German press frequently criticizes French president Nicolas Sarkozy as “Little Napoleon” and mocks the arrogance of the “Great Nation,” these days it is changing its aim to attack German Chancellor Angela Merkel. Germany’s reaction to the financial crisis has been to sit tight and wait it out, while France has been eager to involve the state through stimulus packages and EU action. Merkel, formerly admired for her determination and steadfastness, is now facing criticism for her immobility in the face of one of Germany’s worst recessions, reports Jean-Gabriel Fredet in Le Nouvel Observateur.

In contrast, Sarkozy’s activist response to the crisis is garnering support throughout Europe. Despite their conflicting approaches, it seems that France and Germany are finally putting aside their differences to work together. “The sudden financial crisis in Germany—a country that thought its economy was a safe distance from the sub-prime crisis—on top of the start of a recession for Europe’s number one economy, showed the fragility of an export-oriented model," one French diplomat points out. "This changed the perspective in the country.” Fredet says that German public opinion disapproves of Merkel’s refusal to create a massive European response to the crisis.

Advertisement

Strangely, the pressure to take action has improved relations between Germany and France. After a long period of stiff gestures and policy differences, the two heads of state have come to realize that they need each other. Despite polar political styles—Sarkozy is “an exuberant bling-bling president” while Merkel is an austere leader from the former East Germany—the pair is aware that if they don’t work together, then they will fail together.

As the two major advocates for a semi-socialist economy, they have every reason to stop bickering and join hands. In Berlin, both German and French partners are envisioning ways to restart the stagnant economy, either by using consumption vouchers for low-wage workers or by borrowing 100 billion euros to stimulate demand. In a crisis that has exposed the interconnectedness of the world economy, a greater emphasis on cooperation and understanding can only help.

You must be a registered user to comment.  Click here to register.  Already a user?  Click here to login.

Member Comments

No Comments