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Eurozone has failed

Intolerable choices for the Eurozone, an article in the FT by Martin Wolfe, who concludes that the Eurozone has failed and that no-one knows where to go from here. The surprise is that anyone in a position of authority ever thought that the project was viable in the long term. Surely this alone must now cast doubt on the entire body of economic theory that governments and those who advise them are working to?