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Two things happen when you’re fearful. First, you make seemingly rational decisions that are actually hedges. Or second, you fail to do something because you worry about the consequences.

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John Landgraf

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If European monetary policy is run according to German interests, huge structural imbalances will accumulate. The Germans will then either have to pay to correct those imbalances or agree that the euro should not be run primarily according to German interests. If they are unwilling to do either of those things, the euro can’t survive.

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I read every draft of every episode of every series produced at FX.

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May 3, 2024

I read every draft of every episode of every series produced at FX.

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May 3, 2024

If European monetary policy is run according to German interests, huge structural imbalances will accumulate. The Germans will then either have to pay to correct those imbalances or agree that the euro should not be run primarily according to German interests. If they are unwilling to do either of those things, the euro can’t survive.

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