Put out the flags. Run up the bunting, and start building the memorials.
The euro-zone crisis which, for much for three years from 2011 onwards,
threatened to blow up the single currency
EURUSD
-0.0535%
,and quite possibly the global economy as well, is now over.
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The European Central Bank, the governments of Germany, France, Italy and
Spain, and the International Monetary Fund can now declare victory. The
late-night crisis meetings in Brussels, and the promises of unlimited
firepower to unleash against the speculators, can now be left to the
historians to ponder over.
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