Falling Bricks
The proverb that murdered the Spanish economy


That being the case, it is not surprising that there is a distinct sense among the Spanish economic laity that this is all some sort of Teutonic plot. “The Germans have always dreamed of conquering all of Europe,” says one young Spaniard in a Madrid café. “Now they are.” And Frau Merkel? “Hitler in a dress.”

But Berlin has as much to lose from a Spanish collapse as Madrid does. Its banks are exposed to Spanish risks, and the streets of Madrid are filled with BMWs and Audis, even if a great many of them are running on visibly bald spare tires these days. Germany cannot write off southern Europe without writing off a very large chunk of its own export-driven economy. It’s a Quentin Tarantino–style Mexican standoff, everybody holding a gun to everybody else’s head.

June 25, 2012    |     Volume LXIV, No. 12

Books, Arts & Manners
  • Michael Knox Beran reviews Barack Obama: The Story, by David Maraniss.
  • Joseph Postell reviews It’s Even Worse Than It Looks: How the American Constitutional System Collided with the New Politics of Extremism, by Thomas E. Mann and Norman J. Ornstein.
  • Amir Taheri reviews Patriot of Persia: Muhammad Mossadegh and a Tragic Anglo-American Coup, by Christopher de Bellaigue.
  • Claire Berlinski reviews How Civilizations Die (And Why Islam Is Dying Too), by David P. Goldman.
  • Ryan T. Anderson reviews Natural Law and the Antislavery Constitutional Tradition, by Justin Buckley Dyer.
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