Money talks: financing the periphery buys Berlin a leading role recasting the eurozone governance framework. The recent ‘six pack’ of legislative reforms hints at what’s to come: institutionalized fiscal discipline and an excessive imbalances procedure that protects against future moral hazard. The whole eurozone will tilt toward the German surplus model as we get more fiscal integration and more German leverage.

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "Money talks: financing the periphery buys Berlin a leading role recasting the eurozone governance framework. The recent ‘six pack’ of legislative reforms hints at what’s to come: institutionalized fiscal discipline and an excessive imbalances procedure that protects against future moral hazard. The whole eurozone will tilt toward the German surplus model as we get more fiscal integration and more German leverage." in the context of ""Germany Will Never Leave the Eurozone," Financial Times (October 18, 2011)." to mean that wisdom is timeless.