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2011-09-28 — telegraph.co.uk
``[The Euro Crisis is] not because of debt, except in the most superficial sense. The reason this crisis keeps grinding ever deeper is because the euro itself is a machine for perpetual destruction. The currency is fundamentally warped and misaligned.'' We half agree. Yes, the Euro is a monetary wrecking ball for Europe. But in fact, the debt levels in Europe really are bad, in a fundamental sense. While they might not look so bad compared to the US and Japan, both are VERY special cases; the US prints the money it owes its debt in, and Japan owes its debt to no one but itself. source article | permalink | discuss | subscribe by: | RSS | email Comments: Be the first to add a comment add a comment | go to forum thread Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately. |