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Strolling Up to the Oncoming Train

What plans are being made in case the eurozone falls apart? Well...

“While in the United States there is clearly a view that Europe can break up, here, we believe Europe must remain as it is,” said one French banker, summing up the thinking at French banks. “So no one is saying, ‘We need a fallback,’ ” said the banker, who was not authorized to speak publicly.

Too many in Europe still have their blinders on. That can't end well.