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Saturday, June 16, 2012

Whatever euro's fate, Europe's reputation savaged

A Greek flag flies behind a statue to European unity outside the European Parliament in BrusselsLONDON (Reuters) - Whether the euro lives or dies, the chaotic way Europe has tackled the crisis could undermine the region's geopolitical clout for years to come and leave it at a distinct disadvantage in a rapidly changing world. With an apparently never-ending series of last-minute summits and telephone calls, Europe's leaders and finance ministers have held the bloc together in the face of growing strains between states, a rising political backlash and market alarm. But with hindsight, outsiders say each measure proved too little, too late. ...