Magazine June 11, 2012, Issue

Four Kinds of Dreadful

Angela Merkel crosses the Camp David grounds with her G8 counterparts, May 19, 2012. (Ludovic/Pool/Abaca/Newscom)
On the possible outcomes of the Greek debt crisis

One day before the G8 summit, there was a “leak” from the office of German chancellor Angela Merkel that revealed some of the thinking behind how Germany wants to resolve the long-running euro crisis. The leak was that Chancellor Merkel would ask the Greek prime minister to hold a referendum on Greece’s membership in the euro zone at the same time as the June 17 Greek election. But because it was immediately and embarrassingly denied, it also revealed that the German government was increasingly desperate as it juggled solutions to the euro/Greek crisis. You could follow the thought processes that

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