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But the bond markets are not so constructed to be able to save the euro. That would require euro zone wide cooperation and statesmanship along the lines Yanis Varoufakis has suggested in his "Modest Proposal". But, more fundamentally, it would require the major players to accept that euro-zone economics is not a game that one country can win because pursuing such an attempt will destroy the euro in proportion to the extent the policy succeeds. A policy to make all members prosperous would be most valuable to the largest players, but accepting this is highly unlikely. Such a change would likely only come about through the deaths of the leaders of the existing policy, along the lines Thomas Kuhn has suggested.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Aug 10th, 2011 at 10:56:04 PM EST
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