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It's not just a matter of Europe growing at multiple speeds; the real issue is whether the euro can survive should member countries start pulling out. IESE Prof. Javier Díaz-Giménez says the euro's survival is not guaranteed, particularly in light of unresolved problems, not only in Greece, but also in Ireland, Portugal, Italy and Spain. With such low-growth prospects for the E.U., world economies dependent on large exports to Europe should be adjusting their growth strategies accordingly. |