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The Euro Zone’s Hour of Decision: Update

May 30, 2012 Comments

Wolfgang Manchu in the Financial Times argues that the euro zone’s hour of decision – or, as he puts it, bifurcation point – has arrived. Looking at the deteriorating situation in Spain, it is hard to argue with him. (And in case readers think Manchu is too pessimistic, they are advised to read Peter Boone and Simon Johnson at the Baseline Scenario.)

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