The Eurocrisis is severe, but no reason to wet your pants -- or to mention the war, is it? As did The Times editor-at-large Anatole Kaletsky, in an op-ed for his paper by the headline: "Germany has declared war on the eurozone"

If Clausewitz is right that "war is the continuation of policy by other means", then Germany is again at war with Europe -- in the sense that German policy is trying to achieve the characteristic objectives of war: the redrawing of international boundaries and the subjugation of foreign peoples.

Holy guacamole! The Australian has republished his op-ed with free access to everyone visiting via Google. So search for the headline "Europe is at economic war, and Germany is winning". (HT Christian)

Dan Drezner: 

While Rick Perry's major league gaffe will command all the headlines, I thought the most reealing answers were given to the first question of the night -- what to do about Italy?  Here are the responses of the co-frontrunners:

HERMAN CAIN:  "There's not a lot that the United States can directly do for Italy right now, because they have -- they're really way beyond the point of return that we -- we as the United States can save them."

MITT ROMNEY:  "Well, Europe is able to take care of their own problems. We don't want to step in and try and bail out their banks and bail out their governments. They have the capacity to deal with that themselves."

The NY Times published the craziest op-ed on Germany's policy on Greece that I have seen in a broadsheet. Ever.

After tons of articles about Germany being too slow, too hesitant, too selfish to sufficiently help Greece, the NYT now opened its op-ed pages for the American economist Todd Buchholz to write about "Germany's Love for Greece":

Germany's real motivation to help Greece is not cash; it's culture. Germans struggle with a national envy. For over 200 years, they have been searching for a missing part of their soul: passion. They find it in the south and covet the loosey-goosey, sun-filled days of their free-wheeling Mediterranean neighbors.

In the early 1800s, Goethe reported that his travels to Italy charged him up with new creative energy. Later, Heinrich Heine made the pilgrimage, writing to his uncle: "Here, nature is beautiful and man lovable. In the high mountain air that you breathe in here, you forget instantly your troubles and the soul expands."

"The Slow Death of Europe" is the headline of Walter Laqueur's commentary in The National Interest:

Some five years ago in a book entitled The Last Days of Europe I dealt with Europe's decline-and was criticized for my pessimism. And yet I now feel uneasy facing the apocalyptic utterances of yesterday's Euro-enthusiasts. For even if Europe's decline is irreversible, there is no reason that it should become a collapse. At a time of deep, multiple crises in Europe it is too easy to ridicule the delusions of yesteryear.

Is this going to be a new running theme? Vanity Fair runs a long essay under the headline "It's the Economy, Dummkopf!"

With Greece and Ireland in economic shreds, while Portugal, Spain, and perhaps even Italy head south, only one nation can save Europe from financial Armageddon: a highly reluctant Germany. The ironies-like the fact that bankers from Düsseldorf were the ultimate patsies in Wall Street's con game-pile up quickly as Michael Lewis investigates German attitudes toward money, excrement, and the country's Nazi past, all of which help explain its peculiar new status.

"Standard & Poor's warning the United States could lose its AAA rating may ultimately bring investment to Germany, reduce interest rates on its bonds and help the country lower its own debt," writes Deutsche Welle:

"Standard & Poor's reassessed US sovereign debt and decided to put it on negative watch for the first time, meaning there is one-in-three chance the ratings agency will downgrade the country's hitherto cast-iron AAA credit rating in the next two years. "Germany wins in this equation because it gets a dividend through stability," said Clemens Fuest, a member of the German finance ministry's technical advisory committee. "Interest rates will be pressed down as a result." Germany maintains a secure AAA rating, pays less for a 10-year bond than the United States, and has a constitutionally-mandated 'debt brake.' In Europe, German bonds, known as bunds, have long been the benchmark for investors. (...)

Germany is Europe's "indispensable nation," in charge of "the unipolar moment within the eurozone," and it is to the EU what the United States is to NATO. That's how European and US think tankers compare Germany with the US:

David Rothkopf in Foreign Policy (via atlantic-community.org):

To the extent the EU, NATO, or the G20 have an effective future, Germany will be central to setting the parameters of the agenda. For some, the notion that so many issues important to the future of the world depends on the international engagement of a benevolent Germany will seem more than a little ironic. So too will the fact that Germany has become Europe's indispensible nation. But these are among the game-changing facts of the 21st century. Germany is not just the wallet of Europe, it also must necessarily be Europe's spine and its heart.

The European Council on Foreign Relations makes another comparison with the US. Financial Times:

"Rarely has Germany been as important in Europe - or as isolated - as it is today," say Ulrike Guérot and Mark Leonard in a new pamphlet for the European Council on Foreign Relations. "There has been a kind of 'unipolar moment' within the eurozone: no solution to the crisis was possible without Germany, or against Germany."

Constanze Stelzenmueller wrote in another Financial Times article about Germany: "In economic terms, it is to the European Union what America is to NATO: the superpower that gets to call the shots."

Germany should lead? No thanks. Most Germans rather want their country to be a bigger version of Switzerland. We prefer to just sell our cars, machines and tools around the world, play soccer, watch Tatort, and attend to our Gartenzwerge (lawn gnomes).

The New York Times (via ACUS) describes a joint proposal from German Chancellor Merkel and French President Sarkozy to the EU leaders as a "German diktat." That's the first weird assessment in this Germany bashing editorial. Here are three more:

Mrs. Merkel wants all 17 countries that use the euro to fall in line with German ideas of fiscal austerity in return for limited additional financial support for countries in trouble. She expects them to run deficits no higher than Germany's (3.5 percent of G.D.P.), allow retirement no earlier than Germany (age 67), and raise or lower their tax rates as required to match Germany's.

a) Has the NYT forgotten what the EU agreed on two decades ago? According to the Maastricht Treaty of 1992 deficits should be below 3 percent and debt below 60 percent of GDP. Most countries broke the rules. For some this caused more serious economic problems than for others. Now Germany is asked to help them.