A Party in Europe, But a Hangover is Coming

The euro will live another day, but it remains on life support. The markets rallied overnight on word that the German constitutional court had affirmed the Fatherland’s role in the European bailout scheme, allowing the European Central Bank to heat up the printing presses. That was followed by reports that pro-euro parties were in the lead in a critical national election in the Netherlands, putting an end to concerns that one of the eurozone’s strongest members could fly the coop.

The euro will live another day, but it remains on life support. The markets rallied overnight on word that the German constitutional court had affirmed the Fatherland＇s role in the European bailout scheme,