Updated Friday, April 18, 2014 as of 11:46 AM ET
No Easy Answer to Euro
Friday, April 1, 2011
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A popular narrative has unfolded around Europe's sovereign debt crisis. It revolves around extravagance in Europe's periphery and the need for Europe's more responsible countries to deal with the repercussions of excessive debt. It applauds efforts to discipline certain countries in order to guard against a recurrence of less-than-prudent fiscal and financial behavior. Though this popular story carries much truth, Europe actually has more fundamental problems.

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