Jamaica, an English-speaking Caribbean island nation of 2.9 million people, may seem worlds away from Europe. The country's income per person of $9,000 ranks it 88th in the world, as compared to the eurozone countries, which are three or four times richer. But they face a common problem, and although none of the eurozone countries is likely to become as poor as Jamaica is today, they could easily – going forward – mimic the dismal economic performance that Jamaica has seen over the past 20 years.
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