2010 was a rum year for Europe’s young currency union. While much of the world – particularly the developing world – has pulled out of recession, the Eurozone has had a limp recovery. Instead of robust growth, it has lurched from debt crisis to debt crisis. First Greece received a bailout in May; then Ireland was forced to accept external support in November. As the year drew to a close, markets had already shifted their attention to Iberia and even Italy.
The European Union and European Central
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