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Photograph by Sean Gallup/Getty Images

Photograph by Sean Gallup/Getty Images

Merkel Reigns on Cyprus — Not

Yesterday was the big German parliamentary decision on aid for Cyprus, and the burning question was whether Chancellor Angela Merkel would hold her coalition together or, as in past Bundestag crisis-management moments, rely on opposition votes to pass the package....

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Photograph by SeongJoon Cho/Bloomberg

Photograph by SeongJoon Cho/Bloomberg

Is Cyprus Euro-Exit Talk More Than Talk?

Bailed-out and bankingly challenged Cyprus is a “unique case,” the entire European policy establishment tells us. One under-reported way in which Cyprus is unique is that chatter about eventually leaving the euro isn’t limited to the fringes. It’s part of...

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Photograph by Simon Dawson/Bloomberg

Photograph by Simon Dawson/Bloomberg

ECB’s Emergency Cash Becomes Last Bulwark Against Chaos

The euro area has just come as close as it ever has to learning that what the European Central Bank gives, it can also take away. Before euro-area ministers agreed a last-ditch bailout in the small hours of Monday morning,...

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Greek Prime Minister George Papandreou at EU Summit in Brussels, Feb. 11, 2010

Photograph by Jock Fistick/Bloomberg

Greek Prime Minister George Papandreou at EU Summit in Brussels, Feb. 11, 2010

Today in Euro Crisis History: Annals of Market Intelligence

February 12, 2010 BlackRock Says Greece Is No Lehman, Buys Its Bonds BlackRock Inc., the world’s biggest asset manager, increased its Greek bond holdings, betting the European Union won’t allow the nation to default as Prime Minister George Papandreou cuts...

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