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Reform or Divorce in Europe

To say that the eurozone has not been performing well since the 2008 crisis would be an understatement. Unless its authorities make seven changes, its members will inevitably conclude that they are trapped in an untenable marriage.

NEW YORK – To say that the eurozone has not been performing well since the 2008 crisis is an understatement. Its member countries have done more poorly than the European Union countries outside the eurozone, and much more poorly than the United States, which was the epicenter of the crisis.

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