I am sorry, burdened by tiredness, I could not help but notice an argument that reeked of unfounded optimism.
A comparison of the 1992/1993 Euro crisis and now? Light at the end of the tunnel?
Well, I am sorry, but i am not about to state the obvious and explain why now is different from then, but this is what i will say:
1992 and 2011: same players, two totally different scenarios; one at the start of S£$£% creek without a paddle and the other at the end; one in shallow water and an easy wade to the far bank, the other in a torrent with steep rock faces either side. I know the Fed Res of St Louis is trying to pen off the similarities, and hence the potential for light at the end of the tunnel, but the similarities are shallow and the light nothing more than photons in transit from a long dead star in the firmament.
The only similarity is that a decision has to be made, but the consequences are different.