2015-09-08cnbc.com

``The devastating results of austerity policies are still with us six years after the onset of the euro area financial crisis, punctuated by the outbreak of a relatively minor Greek problem that Europeans mismanaged into an intractable economic, political and social catastrophe. The euro area is now struggling with mass unemployment, a weak financial system and a free-money policy that is gaining very little traction with the real economy. ''



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