The European Contagion |
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Infection. Those who had believed the European financial system was immune to the recent escalation of the US crisis were quickly disabused of the notion. No less than four European financial institutions had to be rescued with government funds – even before the political debacle in Washington sent markets over the edge earlier this week. Vicious circle. The complete loss in faith in the entire financial sector is also demonstrated by the fact that – despite the central banks’ ever larger
Filed under: Fundamental
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