German brinkmanship tests EU nerve

Updated
Merkel and Obama
Merkel and Obama

Europe has a new Iron Lady and her name is Angela Merkel. Iron 'Ange' is playing a high-stakes game of 'Who will blink first' on European - increasingly French - pleas to back a massive bond-buying spree by the European Central Bank (ECB) to help avert "a European catastrophe".

There is some cerebral German method to the gridlock - apparently.

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