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By Otmar Issing
Published: December 1 2010 22:13 | Last updated: December 13 2010 16:19
Miscommunication has accompanied Europe's monetary union since the start. The economic crisis, however, has brought forth a Babel of voices. A recent example was the remark by Herman Van Rompuy, the European Union's president, that the debt crisis would put the survival of the union in question.
Now, most observers would apparently want to put at the top of the list of mistakes the announcement that holders of government bonds issued after 2013 should take losses in the event of a sovereign debt crisis.
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