European Central Bank President Mario Draghi pictured during his first press conference following the monthly ECB board meeting in Frankfurt, Germany.
(THOMAS LOHNES/AFP/Getty Images)
Denmark, Sweden and Switzerland are all struggling with economic difficulties. The causes are various: deflation, asset bubbles and bond market problems. But the root of the problem is singular. All three of these countries are adjacent to the eurozone but do not actually share its currency. In today's globalized world, capital moves like storm surges from market to market and smaller countries must decide how to survive. This means choosing whether to risk the volatility of freely floating their currency or to peg its value to that of a larger player, which many countries choose to do with the U.S. dollar....
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