Tuesday, March 29, 2011

Watch the Euro’s Defences Crumble

by Nicholas Hastings

Wall Street Journal

March 28, 2011

The euro’s defences are under attack again, and they could well crumble this time.

For the last few weeks, the single currency has been supported for two key reasons—market confidence in the political will to keep the euro-project alive and the staunchly hawkish stance of the European Central Bank.

However, the political will is becoming more difficult to preserve and the hawkish stance may not be so helpful after all.


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