Europe Has Hadplenty of embarrassing moments in recent weeks. Aside from the inept response to the Icelandic volcano, which also shot a cloud of jokes onto Facebook(my favorite: "Europe to Iceland: we said send cash, not ash!"), one of the lowest points had to be Greece's attempt to sell itself as an "emerging market." That was the pitch to investors this month, as the Greeks began offloading billions of dollars' worth of bonds by advertising that their yields (and their risks) were higher than those of any number of poor developing nations.
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