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ability of these countries, now substantial countries, to pay their debts? well, europe shouldn t have to handle that. europe needs to deal decisively with it, and i ve spent much of my last six weeks discussing this issue with fellow european finance ministers. and i think there are two components to the solution. one is the euro zone, the countries that have the euro as their currency, need to come up with a decisive plan to deal with the imbalances in a single currency area when you don t also have a single political area or single fiscal area. second almost to the solution is that countries need to resolve their own problems. ireland s got a major banking problem, and is now with international support dealing with it. portugal s got a long-term productivity problem and needs to address that. spain had got problems in its regional banks and is addressing that. so yes, the euro s got to act, but the individual countries have got to act. when you watch the chinese,

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