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Saturday, June 16, 2012

The Euro in Her Death Throes

While Dr. JW (left) insists on more bloodletting (austerity and internal devaluation), Dr. MD (right) vigorously advises cupping (structural reforms). Meanwhile, a bank run is in progress in the lower left periphery. Euro's handmaiden AM (center) refuses further infusions (bailouts) until an ironclad chastity vow (fiscal pact under G auspices) has been made (after William Hogarth, A Harlot's Progress, Plate 5, picture source Wikimedia Commons Public Domain).