"Just when you hoped it really was "solved", the eurozone crisis has roared back on to the global agenda.
Like a lingering bad smell, the fundamental contradictions at the heart of monetary union can be blanked out for a while but refuse to go away. The busted banks, the grotesque indebtedness, the inherent contradictions – in recent days they've all burst back into view.
The eurozone has deeply entrenched economic, financial and political problems. No amount of tub-thumping – by Sarko, European Central Bank President, Mario Draghi, or anyone else – can change that fundamental truth."
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