''The euro crisis reflects the failure of a dead-end policy. The German government lacks the courage to move beyond a status quo that has become untenable. This is why, despite extensive rescue programmes and countless crisis summits, the situation of the eurozone has steadily deteriorated over the last two years. In the wake of its economic crash, Greece faces the prospect of leaving the eurozone, which would have incalculable knock-on effects for the other member countries. Italy, Spain and Portugal are all in the grip of a severe recession, which is driving up unemployment..''
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