So after a brief period of freaking out about Ireland, the euro is back to rallying again, and it’s now above $1.31.
But Europe has been a game of whack-a-mole all year, and any bulls have to do a gut-check and ask whether the crisis story is over.
Greece seems like the most likely candidate to pose a crisis again, with its weakening economy, and its inability to collect taxes.
The only question is: When does it because an issue?
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