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Is the Euro Good for Europe?
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People in the German border town of Passau probably don't think of themselves as champions of the euro. Yet this August they scored a victory for Europe's single currency. On a warm Friday afternoon, about 500 people, led by Mayor Albert Zankl, drank beer, ate bratwurst and for almost five hours blocked a road into neighboring Austria. Their target: the price of gasoline in Germany which, at about j1.15 per liter, is about 20% more expensive than in Austria. Every day since the beginning of...