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politics. financial crisis. Greek default. euro. fiscal union. European union. Germany

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Eurogeddon. It isn’t just Greece’s fault. Really, it isn’t.

   We all know what the problem is:  Europe has a single currency but no central treasury – no overall financial supremo who can collect revenues and disburse them across the 17 eurozone countries on the basis of need and fiscal responsibility.  As they head inexorably toward default, the Greek people are quite rightly furious … Continue reading

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