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Merkel has realized that the euro is not working, but she cannot change the narrative she has created because that narrative has caught the imagination of the German public, and the German public has accepted it.

George Soros
Imagination, Narrative, Accepted
"George Soros on the Euro Crisis". Interview with Der Spiegel, www.georgesoros.com. June 26, 2012.
Merkel has realized that the euro is not working, but she cannot change the narrative she has created because that narrative has caught the imagination of the German public, and the German public has accepted it.