Europe’s Populists at the Gate
Investors, policy analysts, and even officials are quietly beginning to suggest that the euro crisis might be over. But, investors are missing the real risk: the collapse of public support for, or at least acquiescence to, the austerity policies required to work down heavy debts, and for governments pursuing these policies.
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LONDON – Is Europe’s crisis over? Investors, policy analysts, and even officials are quietly beginning to suggest that this might be the case. The euro has strengthened by nearly 10% against the dollar since European Central Bank President Mario Draghi vowed on July 26 to do “whatever it takes” to hold the currency together.