Economies reflect the history and cultures of each country, something the core countries of the eurozone are finding to their amazement and pain: surprise, Greeks are not Germans. And Europeans are not Americans. Americans by and large accept the creative destruction wreaked by entrepreneurs, while Europeans put greater emphasis on preserving the status quo. And “union,” as in European Union, is different from “united,” as in United States. The differences between conservative Texas and liberal New York are nothing compared with the differences between, say, Germany and Spain, or even between Italy and Spain.

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A quote saved on Oct. 15, 2013.


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