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300 pages, Kindle Edition
First published March 14, 2013
It is commonly held opinion that years of crisis are good years for chancellors.Merkel’s first term saw the bankruptcy of Lehman Brothers the year before the general election, and from then on her main preoccupation would be the economy, the stability of the banks, the survival of a single currency, and a whole range of political issues that went with the euro crisis. Merkel’s approach to saving the banking system (tighten money supply) appeared to be opposite to what the Americans wanted to do (loosen money supply), and in fact there was a moment when Obama’s financial policy team led by then-U.S. Treasury Secretary Geithner almost derailed Merkel’s attempt to orchestrate a response to the Greek debt crisis.
At the top of Merkel’s scale of values is freedom… “Freedom is the joy of achievement, the flourishing of the individual, the celebration of difference, the rejection of mediocrity, personal responsibility.” …Now, after over seven years as Chancellor, freedom is more than ever the leitmotiv if her foreign policy.