US Treasury Secretary Tim Geithner told the IMF that 'decisions as to how to conclusively address the region's problems cannot wait' Photo: REUTERSEurope Must Now Grasp Its Chance To Turn Off The Doomsday Device -- Jeremy Warner
The G20's 'grand plan' discussed in Washington is far from perfect – but it could buy enough time to defuse the euro crisis.
Benjamin Franklin's famous remark that "we must indeed all hang together, or, most assuredly, we shall all hang separately" was much in use among G20 finance ministers last week, meeting in Washington to address the crisis facing the eurozone.
There was always a delicious ambiguity about this observation, which is even more apparent when applied to the travails of the single currency. Franklin could have meant that it is better to act together in pursuit of salvation than to face the noose alone – or simply that, if you're going to die anyway, it's nice to hav [...]
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