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Curiously nobody (AFAIK) is making the point in a fer-real, instead of a pseudo, Common Currency whether Greece is in a current account deficit to other members of the eurozone matters not a whit.  Alabama is in "deficit" wrt California and nobody is fretting the US dollar is about to go bust.  If the eurozone would get themselves a real Central Bank, instead of a pretend CB staffed with loonies, the problems could be alleviated.

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre
by ATinNM on Sat Dec 10th, 2011 at 12:18:32 AM EST
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But then Germany would feel compelled to leave. Instead of that being a good thing for the other members, as it could be, the existing pretend leaders would, instead, devote all efforts and policies to attempting to entice Germany back into the union.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sat Dec 10th, 2011 at 12:58:41 AM EST
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