Europe's future looks more Japanese than German

Those who hope Europe will recover within a few years on the back of rising exports are underestimating the toxicity of austerity and the banking crisis for the region.

FT.com

Solving the eurozone crisis is a piece of a cake. I was reminded of that last week when I heard an economist cutting through all the complexity with a classic what-goes-up-must-come-down-type argument.

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