Greek Debt Crisis: And the Loser is . . .

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Germany. Whether it’s the gathering meme blaming German trade imbalances and “hidden” protectionism (labor cost competition) for the current crisis, or the increasing likelihood that the monetary/debt crisis will drive further EU budgetary coordination and economic government, the Germans are looking more and more like they’ll turn out to be the big losers from the Greek debt crisis. After the Greeks, that is — and even there, I’m not so sure.


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