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The Fundamental Flaw of Europe's Common Currency

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EURO-PHORIA
"The notion that the European common currency is based on nothing but a series of lies is now taking its toll," Spiegel writers say. "All of the founders of the euro knew that the new currency could only be stable if all member states committed themselves to sound financial policy and, in the long run, spent only as much as they collected in tax revenue. But many ignored this principle right from the start."
SOURCE:   Spiegel

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