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H/t Zero Hedge
Eurobonds still won’t fix the problem. It will only validate the fiscal recklessness of the periphery countries. In fact, it will worsen as the Greeks, Portuguese, and Spanish spend more knowing Germany is backing them.
The Germans will be idiots if they bail out those countries. They will be guaranteeing a debt crisis will come to their land in a few years.
Ultimately, nationalism will prevail in Europe as it always has and will. Remember all those wars…nationalism, folks.
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