Stratfor has a nice writeup on Germany's newly assertive foreign policy. Short version, Germany has no choice but to lead and however welcome that will be in the short term, it's going to put the usual pressures on Europe's political stage which will increase problems for the long-term.
Pax Americana is receding and there will be consequences to that, many of them unsettling. Have the germans grown up and are now capable of leading without bullying? It's an open question and one that has some really bad outcomes if the answer turns out to be no.
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