Merkel’s uncertainty regarding the financial crisis is becoming increasingly evident. ++ Recently, three “Merkel myths” have been dispelled: the CSU loss in Bayern ended the idea of Merkel’s electoral invincibility; her rejection of an EU financial rescue plan proves she is not a European; and political vacillation has cast doubt on her leadership abilities. ++ As the
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Anger stemming from the financial mess is ubiquitous; the biggest backlash comes from outside the Anglo-American world and is directed at their unique type of capitalism. ++ The disparity between individualism and solidarity is the primary cause. ++ Markets are not perfect, nor are Adam Smith’s theories. ++ “Arm’s-length finance,” a distinctly Anglo-American style, has made headway on the
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