The Greek resolution, such as it is

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Starting back in 2011 I posted rather frequently about the macroeconomic situation in Europe. My basic premise for what we would see in its future was best summed up with the following sentence.

Periphery nations weakening, France in the middle, Germany outperforming, but the whole ship slowly sinking.

Given recent history that seems to have been a fair observation, and certainly the latest episode in Greece has again shown the on-going macroeconomic imbalances in the Eurozone and social and political outcomes of this ongoing folly.

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