More than a blank check is needed to save the euro

Having reached a critical point in the effort to save the euro it seems almost natural that the fingers would come out to assign blame. And most of those fingers are pointing at Germany, which is resisting calls to write a “blank check” to bailout its European neighbors.

However, says a Wall Street Journal editorial, the Germans recognize that “saving the euro requires more than a blank check.”

“It requires a new political commitment to better economic policy. Chancellor Angela Merkel and her cabinet are as euro-centric as the French, but they realize that money alone won’t solve Europe’s more fundamental debt and growth problem,” the paper argues.

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