“Where is the very edge of the precipice” and when will the leaders of the Euro-area reach it? The answer is “Here” and “Now”. If no clear outline of a solution to the Euro-area crisis emerges during the sequence of meetings over the next two weeks, starting with EU finance ministers this week and ending with the European Council heads of government summit on December 9, we can assume that our leaders will have taken a bold step into the big blue void. My hunch is that they will produce an...
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