NYTIMES/ECONOMIX/ PETER BOONE AND SIMON JOHNSON/ DETAILED ANALYSIS/ "The problem this time is bigger. It is not only about banks; it is about the essence of the euro zone, and the political survival of all the public figures responsible. If Mr. Trichet and Mr. Strauss-Kahn were honest, they would admit to Ms. Merkel “we messed up — more than a decade ago, when we were governor of the Banque de France and French finance minister, respectively.” These two founders of the European unity dream helped set rules for the euro zone that, by their nature, have caused small flaws to turn into great dangers."
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