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Crisis Without End

8:12 AM, May 14, 2012 • By GEOFFREY NORMAN
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This business with Greece goes on and on, and one begins to think, automatically, of Sisyphus and his rock. Only in this case, you start pulling for the rock.

The news this morning suggests the crisis may have reached a point of no return ...

Greece’s possible exit from the euro area moved to the centre of Europe’s debt-crisis debate, with officials beginning to weigh the fallout of a withdrawal even as authorities in Athens struggled to form a government.

But it seems like we have heard it all before. That we have been hearing it, in fact, more or less continuously for these last two-plus years.

But if these big questions are, indeed, about to be settled, here are a couple of others that might be worth asking:

First, since all of the experts and leaders and such have been unable to solve this problem, what exactly were they doing in Brussels and the other charming venues where they routinely meet to sort these things out? And what did they have for lunch?

Second, how did so many of the world's modern economies find their fortunes shackled to those of a corrupt, hedonistic nation with a GDP roughly the size of Maryland's? 

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