It is remarkable that Berlin has met so little resistance until now in driving through a fiscal treaty that puts all the burden of resolving EMU imbalances on the weaker states, and that almost no country wants; or in enforcing its lethal doctrine of "expansionary fiscal contraction" on economies trapped in debt-deflation; or in toppling elected leaders in Greece and Italy; or in imposing bondholder haircuts in Greece against warnings from the ECB - warnings soon realised as contagion engulfed Ireland, and now threatens to engulf Spain too, with Italy yoked in tandem, and France yoked in turn through trade and debt exposure.