Politicians like to behave as if the laws of economics do not exist. We learnt that lesson the hard way in the eurozone crisis, dealing with the consequences of a single currency created without key economic safeguards.
On the other hand, economists and investors have a habit of ignoring the laws of politics. That is equally wrong and could turn out to be particularly risky in Europe over the next couple of years.
There is no pressing economic crisis confronting the continent in 2016, thank goodness.
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