The rise of a German Europe began in 1914, failed twice, and has now ended in the victory of German power almost a century later. The Europe that Kaiser Wilhelm lost in 1918, and that Adolf Hitler destroyed in 1945, has at last been won by German Chancellor Angela Merkel without firing a shot.
Or so it seems from European newspapers, which now refer bitterly to a "Fourth Reich" and arrogant new Nazi "Gauleiters" who dictate terms to their European subordinates. Popular cartoons depict Germans with stiff-arm salutes and swastikas, establishing new rules of behavior for supposedly inferior peoples.
Millions of terrified Italians, Spaniards, Greeks, Portuguese and other Europeans are pouring their savings into German banks at the rate of $15 billion a month. A thumbs-up or thumbs-down from the euro-rich Merkel now determines whether European countries will limp ahead with new German-backed loans or default and see their standard of living regress to that of a half-century ago.