Is Merkel on her way out? Yes, but not quite yet.

Last weekend, Angela Merkel and her prospective government were supposed to announce to the world that everything was on track. But on Sunday evening, the liberal FDP (Free Democratic Party) made a dramatic departure from the coalition negotiations. Germany isn’t in crisis, but it is facing a new set of challenges. Don’t bet against Angela Merkel and the political class being more adept at meeting them than many fear.