Will The Euro Tame The Eurobull?

The hardships of a single currency could scuttle the Continent's stock and bond rallies

For European investors, 1996 was the year falling interest rates finally put the bull back in bond and equity markets. But it's not the bulls, but the pols, who are patting themselves on the back for the markets' achievements. In the struggle between economic fundamentals and the political will to establish a single currency for the 15 European Union economies, you can definitely chalk up a triumph for politics.

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