There's No Dilemma Like a Euro Dilemma

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Eventually, Greece is obviously going to get someone bigger to stand behind its crippling budgetary debts. The specter of sovereign default has stalked the euro zone long enough, dragging its proud currency into disrepute.

The trouble is that Germany's trump card, its thumping great trade surplus, is largely built up against, guess who, other countries within the euro zone. In a nutshell, the deficits of Greece and Spain and Portugal are the German surplus...

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