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We never understood how the EU would work over the long term. The tribes of Europe gladly took their profits, but how can you make the argument that people should put up with years of "austerity" for the sake of a concept only a banker could love. Pan European song-festivals seem popular but we imagine that if German, Italian or Spaniard were asked if he or she were willing place a united "Europe" above a particular nation-state, the answer would probably be no.