Just over two years apply for finance European policymakers, the International Monetary Fund and others with a stake in Europe’s outcome need to recognize that the history of financial crisis is a history of windows of opportunity missed. New business is always more exciting than unfinished business. And where matters are controversial, forced moves are easier for policymakers because they can be portrayed as moves of necessity rather than choice. So outsiders avoid confrontation and insiders embrace drift. The consequences could be grave.
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