Everybody likes to pretend that the euro crisis is over.
There are the politicians who never want to hear the word "bailout" again. The central bankers who never want to hear the word "deflation" again. And the people who never want to hear the words "bond spreads" again. But this suspension of belief, of course, hasn't done anything to end Europe's depression. Unemployment is still over 25 percent in Greece and Spain, 15 percent in Portugal and 10 percent in Ireland.
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