A report from inside the euro crisis says saving Greece will cost much more and take much longer than expected. Politically, that's not doable, making default likely.
From the beginning of the European debt crisis, eurozone leaders have been one step behind. That's why this crisis has lasted so long and grown so wide and deep.
And it's now clear, on the eve of yet another emergency summit meeting on Wednesday, that the currency union's political and financial leaders are about to do it again. Whatever cobbled-together solution they announce as their grand plan that day will, once again, be a step behind the evolution of the crisis.
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