Germany: Merkel Shifts, But Keeps the Upper Hand

European leaders who’ve been pushing a so-called “growth pact” scored an apparent victory on June 22 when the heads of the eurozone’s biggest countries announced injections of fiscal stimulus into the ailing currency union. However, on the more important issues of eurobonds and a banking union, no progress was made as an unyielding German Chancellor Angela Merkel rejected additional economic integration in the absence of political integration.

To continue reading this LIGNET special report, upgrade your account status by clicking here.