Markets Magazine
Losing Euro in Defaults Brings No Threat to EU: Matthew Lynn
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It will be objected that the euro has to be preserved to keep the European Union together.
That will certainly be the standard line from the Brussels-based elite during the next few years. Indeed, it was heard frequently during the trillion-dollar weekend, May 7 to 9, when euro-zone leaders came to Brussels and agreed on a bailout plan meant to be big enough to restore confidence in the region’s sovereign debt.