Germany Goes It Alone?

So instead of acting to save the old Eurozone, Germany appears to be opting for a more compact and stable Eurozone— abandoning the PIIGS to their fate, and the world economy with it.

Sounds simple enough.  Let them fail.

The implications for the world economy, on the other hand, will be much more profound.  Apparently, someone in Berlin has determined that a brief double-dip and Club Med fire sale will allow the Germans to emerge stronger in the long run.

Cold calculus, but it just might be better for the long-term health of the global economy as well.

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