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Op-ed: EU leaders can´t stand firm with recovery policies

Antoine de Saint-Exupéry once said that "a man discovers himself when he measures himself against an obstacle." The current crisis has been cruel, long, and tedious. Protests have been born out of failures in Spain and other European states.

Zapatero, who first denied the problem until he could no longer feasibly do so, eventually acknowledged them but still lacked the strength to make the reforms that everyone except him considered essential. He is not the only one, however. Merkel and Sarkozy cannot brag about much either.

Those who own Europe, and their main beneficiaries, have refused to take the lead in recovering their common currency. While they may not show an inviolable desire to save Greece, Europe will continue to rest in speculators hands.

And that isn´t to say that Papandreu deserves it, but quite the contrary. The Greek leader has been giving unclear messages and has not successfully employed an austerity plan without which his country has no future.


Translated and Edited in English by Brandon Dyches and Jose L. De Haro (joseluisdeharo@eleconomista.es)

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