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The Euro Needs More Than Just One (German) Economic Policy Tool To Work

Recently, at the height of the Greek drama, an editorial appeared in Corriere della Sera, entitled: ‘There is no Europe without the Euro, There is no Euro without Europe’. The first statement is both an historical and present falsehood, the second is a banality not worth commenting on. The euro has been made into a fetish, identifying it with the very idea of Europe; and this has turned it into a taboo.

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