The Optimistic View of Europe
Cam Hui | Mar 03, 2012 11:45PM ET
Forget about the alligators. Let's talk about draining the swamp. There is a way out of this quagmire for Europe. Ken Rogoff, in an interview with European youth unemployment . Note how it is going up everywhere except for Germany.
We have a map showing how to get out of the swamp. Can the European elites steer the EU out? I am not sure, but not all is lost. Just remember how Thatcher's reforms revitalized Britain. Is the current situation on the Continent very much different from the UK in the early 1980's?
I remain cautiously optimistic longer term. Consider the judgment of the markets. If Europe is in such trouble, then why has the EURUSD exchange rate been rallying?
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