Get it over with — Europe’s sick men should default

posted by
May 11, 2011
Adam Smith Institute
by Madsen Pirie  
Posted in Commentary

"The markets have pretty well decided that the only way out is for defaults, leaving bond-holders out of pocket, and for some countries to quit the euro so their currency can find a market level compatible with their real status. Yet the politicians are desperately holding out, offering patch after patch to a problem that is clearly going to burst sometime." (05/11/11)  


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