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But the original sin was that Italy and the others begged to be let in.

Germany did not want them in, because the Germans did not expect the Italians and other peripherals to be able to live with the euro - and in that they were not wrong.

And even back then, more than 20 years ago, they were not willing to make the political arrangements that would have made a currency union with structural deficit countries possible.

Wind power

by Jerome a Paris (etg@eurotrib.com) on Thu Jun 2nd, 2011 at 09:44:06 AM EST
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