A new Europe is emerging: by Michael Moran

As leaders of European Union states erected a wall of euros to defend the common currency from the Greek debt crisis on Sunday, the head of the EU’s most important economy decided she would go to Moscow instead.

While investors continued to punish Greece for its profilacy, Angela Merkel, the conservative German chancellor, accepted Russian Prime Minister Vladimir Putin's invitation to the 65th anniversary of the end of World War II.

French President Nicholas Sarkozy and Italian Prime Minister Silvio Berlusconi stayed home given the gravity of the crisis facing the EU. Merkel appeared far less concerned with the euro’s fall. And the following day, when Merkel’s cabinet dutifully approved the nearly $1 trillion emergency bailout package, they did so entirely without enthusiasm.

So is the EU headed for a break up? Probably not, but something’s got to give. Germany agreed to the bailout of Greece this time around, and reluctantly persists in Afghanistan, too. But German voters have put their leaders and neighbors on notice: If you want European unity, then pay for it yourself.

For moreL Angela Merkel | Euro Currency | Greece Economy