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Dissecting Three Aspects of the Euro-Zone Drama
There are three facets to the unfolding drama in euroland: the immediate finances and inevitable defaults; the post-default euro zone; and the political fallout. The first, and most obvious, is the financial. The second aspect is the post-default world, best summarized as après default, le déluge. The third aspect of the euro-zone woes is the political, which might prove in the end more consequential.