Feb. 9 (Bloomberg) -- The euro rallied and emerging-market stocks recovered from the worst three-day slide in a year on speculation Greece will get European help to tackle its budget deficit. U.S. stock-index futures advanced...
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Comment: What comes under the name of "solidarity", be it the bailout of Greece or the welfare state, is nothing more than the institutionalization of moral hazard - with all its negative consequences on prudence, thrift and rational behavior. We're firmly on the path to misery.
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