Death of Euro Seen Exaggerated

Political will to be deployed to save the common currency.

Investors betting against the euro-area surviving its debt crisis in one piece may be overlooking one thing: the will of politicians to hold it together.

German Chancellor Angela Merkel is intensifying her defense of the currency. French President Nicolas Sarkozy says there’s no alternative to channeling aid to Greece without risking the kind of cataclysm set off by the 2008 collapse of Lehman Brothers Holdings Inc. Greek Premier George Papandreou this week proposed 6.6 billion euros ($8.7 billion) of fresh austerity measures in a recession headed into a fourth year.

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