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structure reforms that make it periphery more competitive. most economists also agree that these reforms will take years, and you need a bazooka to help, the periphery defend itself from markets in the meanwhile. this bazooka can take the form of a combination of the bigger european financial stability fund. imf enlargement, and d.c. be support, but the banks, which it is not doing the time, and to sovereign when necessary. the essence of the current stalemate in europe and its inadequate policy response is that there is no agreement, either on how the burden of adjustment will be shared in the short term, nor is there trust that in the long term a fiscal union will not turn into a trance for union from the north to the south. on the other hand, everyone is aware that we all lose a lot if no solution is found. the big losers will include, of course, the periphery of europe, but also germany, the u.k., which is in the you, but not in the eurozone. it could include the united s

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