Europe dodged a bullet last week in its efforts to manage its debt crisis, which is now in its third year. The Greek election kicks the can down the road a bit, and gives the eurozone a chance to focus on other pressing problems. It looks like the European endgame is to muddle through the succession of challenges posed by the common currency while the Continent prepares for a more disciplined fiscal union. The economic imbalances in Europe are seemingly too severe and intractable to do much else. It is not clear whether Greece, for example, will be able in the long term to both remain in the eurozone and meet its obligations, but at least the day of reckoning has been put off for a while.… Seguir leyendo »
Warren L. Dean Jr.
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