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As surely as night follows day, the economic cycle has again reached the point where the euro waddles up to the brink of crisis.
This is only partly a comment on the exchange rate, though that is the main reason the world is paying attention to Europe’s common currency. The euro on Thursday fell below parity with the U.S. dollar for the first time since 2002, a steep decline in value from around $1.14 at the start of the year.
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