Is the Euro Zone at the Beginning of the End of Muddling Through?

This week’s series of high-level meetings in Europe is being billed as make or break for the euro. The good news is that European politicians finally seem to realize the extreme seriousness of the current situation. But any agreement at this Friday’s summit of all 27 euro-area countries is likely to stop short of anything resembling a full fiscal union, in my view. (more…)

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