As European Austerity Ends, So Could the Euro
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May 14 (Bloomberg) -- The euro currency is a malady thatcondemns at least a generation of Greeks, Italians, Spaniards,Portuguese and Irish to the economic infirmary.
In these nations, unemployment rates are now at theirhighest levels in recent decades, and there are few prospectsfor recovery in sight. The economists and politicians whocreated the system still proclaim it can survive. Their timewould be better spent recognizing they made a bad mistake andpreparing for an orderly dismantling of the euro before thedamage spreads and further undermines European unity.