Want the Euro? Be More Like the Germans

The common currency has a low tolerance for democracy's wilder extremes.

Not welcome in the currency union.

Photographer: Christopher Furlong/Getty Images

The deal European leaders struck with outmatched Greek Prime Minister Alexis Tsipras on Monday morning will probably end in failure: It's hard to imagine a country that has not lost a war giving up its sovereignty to the extent that Tsipras has promised. The agreement has, however, demonstrated that a common currency like the euro has a low tolerance for democracy's wilder extremes.

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