Why has Angela Merkel cast herself as the empress of austerity?
The consensus among pundits seems to be that she is focused solely on her political career. To have any real hope of being re-elected next year, the pundits say, she cannot show mercy towards Greece.
Undoubtedly, there is some truth in the argument. But I'm not convinced it encapsulates the full story.
A clue to Merkel's real agenda can be found in a speech she gave to the College of Europe ...
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