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75 Percent of Germans Think the Worst Is Yet to Come

Germans have a favorable impression of Chancellor Angela Merkel’s management of the Cyrpus crisis, according to a poll cited by the Washington Post, but the really important data is buried lower in the story. The same survey found that “75 percent of respondents believed the worst of the euro crisis is still to come.”

European political leaders have repeated over and over and over again the magic mantra: We have the European fiscal crisis under control. They have to tried to claim that they are moving smoothly toward a Eurozone-wide banking union. They have promised to pursue other measures to fix the root causes driving the euro’s dysfunction. And so on and on.

But it looks as if the people of the euro’s most important member see right through the charade. We don’t welcome this news, but it’s hard to have much sympathy for a shortsighted and incompetent European leadership that has buried its head in the sand while the continent burns.

One of our biggest concerns is for people with a stake in the mercurial European market. Sophisticated investors monitoring their investments on a daily or even hourly basis can afford to play the ups and downs of the European market. But regular folks may just want to get out.

[Disintegrating euro, courtesy Shutterstock]

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  • Alexander Scipio

    Well, if German voters had working brain cells they’d stop complaining about the euro and the “worst to come” scenarios… and just get OUT of the eurozone. Better for them, better for the other euronations.

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