One thing you can say about the euro – it’s proving much more resilient than conventional economic analysis suggested it was ever likely to be. Those who bet the ranch on it falling apart this year have been left badly out of pocket; those that took the contrary view and piled into Greek assets when they were flat on the floor have done well.
When politics and economics collide, it’s nearly always economics that wins, but with the single currency – so far – the politics has triumphed over the economics.
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