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Opinion
The Editors

Europe’s Last Chance to Save Itself

Europe’s economic catastrophe is unfolding so slowly that it has come to seem like business as usual.

For some analysts, the optimistic scenario -- yes, optimistic -- now requires a Lehman-style financial collapse provoked by a Greek exit from the euro system. Nothing less, they reason, will get European Union governments to act. How’s that for a vote of confidence in politicians?