“The Eurozone Debt Crisis”
The current euro zone debt crisis centers on Germany and is an existential crisis about European Union political integration. Chancellor Angela Merkel explained that “if the Euro falls, Europe falls.” She described the challenge as “the most difficult since the Second World War.” The Eurocrisis is reminiscent of two European conflagrations lasting three decades, the Thirty Years War (1618-1648) and the two twentieth-century World Wars (1914-1945).
Over the past two decades, a united Germany has accepted its EU integration responsibility to move toward a European Monetary Union, to introduce the euro, and now to resolve the current Euro crisis. There is little doubt that Germany is obligated to support EU integration: constitutionally, historically, and morally.
In a recent article published in the German newspaper Sueddeutsche Zeitung, Ambassador J.D. Bindenagel discussed the Eurozone debt crisis and its importance to the global economy, and he will share his views on the crisis for this ICFRC program.
Ambassador Bindenagel is an expert on German politico-military history and policy. He is a former U.S. Ambassador and career diplomat who served in East, West and united Germanys during the end of the Cold War. He had a part in the reunification of Germany, the Balkan Wars, debates on North Atlantic Treaty Organization security policy and expanded membership, and in German national security from 1972 to 2002. He was appointed by President Bill Clinton in 1999 as U.S. Ambassador and Special Envoy for Holocaust Issues. He was a consultant and interviewed as an eyewitness for “The Wall: A Country United”. A Houston PBS documentary about the fall of the Berlin Wall, produced, written and directed by Eric Stange.