Even as many European nations recoil from the obligations of economic union (because neither borrowers nor lenders are very happy these days), a radical cross-border European politics is being born.
Ironically, the founding document of a genuinely pan-European politics isn't one that unites the continent. To the contrary, the fiscal compact that German Chancellor Angela Merkel persuaded her European Union colleagues to embrace — with an assist from French President Nicolas Sarkozy — has given rise to bitter dissents both within and among European nations. The pact, which codifies fiscal constraints that will inflict years of economic stagnation, if not accelerated decline, on such debtor nations as Spain and Greece, has divided Europe into rival camps — the Keynesian leftists against the austerity rightists.
Nothing new there. What's new is that these camps extend across national borders. An embattled Sarkozy, facing a strong reelection challenge from Socialist Francois Hollande, has sought and received Merkel's endorsement. The German chancellor has not only expressed her support for Sarkozy but also her willingness to take to the stump on his behalf. Although heads of government often meet with opposition candidates, Merkel rebuffed Hollande's request for a meeting; fellow conservatives David Cameron and Mariano Rajoy, respectively the British and Spanish prime ministers, have also said they did not wish to meet with Hollande.