June 29, 2012

Soviet Collapse Holds Lesson for Euro

Philip Stephens, Financial Times

AP Photo

The Soviets thought that doing nothing would preserve the status quo. They learnt subsequently that inaction is a decision like any other. To say that break-up of the euro would wreak havoc on the European and global economies will not of itself prevent it from happening.

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TAGGED: Eurozone, Euro, Europe, Russia, Soviet Union

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