Watching the Eurozone self-destruct over the past two years or so has been interesting in the same way watching a train wreck is interesting. The wounds are all self-inflicted; the only question is whether they were inevitable.
One thing that seems amazing, given the continent's history, is that the turmoil has not led to serious geopolitical antagonisms -- Greeks (and others) may be angry at Germans, but there's no talk of war or anything remotely approaching that.
There are lessons for the U.S. in the Euro's demise, but they're not the lessons that many people seem to be talking about. And it really must be said, that comparing government's role in running an economy to the way a household or even a business must act is far less than helpful.
And I won't even comment on the politics.
No matter what happens in Europe, we'll be affected by it. Hopefully, there are some other silver linings that aren't obvious at the moment.
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