If Germany Goes …

On the heels of a weak German GDP report, Ryan Avent fears that the strongest economy in the euro-zone is beginning to slow. McArdle is equally worried:

This is obviously a huge problem for the eurozone.  Those who think that the euro can muddle through this without losing the periphery have been counting on Germany (and to a lesser extent, France) to deliver a bailout.  A recession is going to erode Germany's economic ability to funnel cash into the PIIGS, but more importantly, it is going to make German voters much less patient with the notion.