Members of the euro zone are suffering from a severe bout of buyers' remorse. Many would like to disassemble the kit they bought almost 20 years ago and put together in the late 1990s and 2000s. But they can only break it, together with the entire structure of European co-operation. Meanwhile, the world looks on in horror at the possibility that the euro zone is about to unleash a wave of sovereign debt and banking crises. If so, it would not be the first time that European folly has brought ruin on the world.
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