Severing Symbiosis Causes EU Debt Crisis to Escalate
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The European debt crisis has set to hit new heights. Greece is now the first developed economy to force-restructure its sovereign-debt since World War II. According to current plans, private-sector investors will suffer 50% losses. Yet the double consequences are far and wide. First the symbiotic relationship between banks and governments has been mangled. Second the inhomogeneous Euro area will prevent Greece from recovering in time to avoid a total crisis.Source: http://ezinearticles.com/6682813
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