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Failed Discipline, Failed Reforms and Grexit: Why the Euro Failed
Friday, February 27, 2015 7:42
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by Charles Hugh Smith, Of Two Minds
There is no substitute for the discipline of a market that cannot be manipulated by political elites.
It’s not that difficult to understand why the euro is doomed to fail. Given its structure, there is no other possible outcome but failure. Greece’s exit (Grexit) will simply be the first manifestation of the inevitable structural failure of the euro.
Source: http://econintersect.com/b2evolution/blog2.php/2015/02/22/failed-discipline-failed-reforms-and-grexit-why-the-euro-failed
