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Munchau Italy’s referendum. December 5, Europe could wake up to an immediate threat of disintegration

Failure by the EU to construct a proper economic and banking union after the eurozone crisis of 2010-2012 and to impose austerity instead. 

If you want to know why Angela Merkel cannot be the leader of the free world, look no further. 

The German chancellor could not even lead Europe when it mattered.

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