Markets

Concerns Over Germany’s Disappointing Factory Orders May Be Overblown

[credit provider=”Flickr” url=”http://www.flickr.com/photos/kurmis/178625914/”] People really freaked out last Friday when it was reported that German factory orders plunged 4.8% in November, which was much worse than the 1.8% decline expected.  This is concerning since Germany, the largest economy in Europe, is also considered to be in the best economic shape […]
Concerns Over Germany’s Disappointing Factory Orders May Be Overblown
Markets

Italy Gets Demolished And European Markets Limp To A Disastrous Close

[credit provider=”Wikimedia COmmons” url=”http://commons.wikimedia.org/wiki/File:Huevo_Quebrado.jpg”] European markets in Spain and Italy tanked today, hit by negative headlines from all sides. The German DAX, British FTSE 100, and French CAC limped along, weighed down by the periphery.Last month’s optimism seems to have vanished since the start of 2012.
Italy Gets Demolished And European Markets Limp To A Disastrous Close
Markets

Time For Greece To Default And Kiss The Eurozone Goodbye

[credit provider=”Getty Images”] Inquiring minds might be wondering what is the best way forward for Greece. To some extent, the question is akin to asking “would you prefer to lose a one hand and one eye or your left leg?” I have been thinking about the Greece “least bad” question […]
Time For Greece To Default And Kiss The Eurozone Goodbye
Markets

EUROPE: This Is What Will Happen In 2012

[credit provider=”NASA” url=”http://earthobservatory.nasa.gov/IOTD/view.php?id=981″] The last half of 2011 was dominated by ever more grim news from Europe. But will 2012 be the same?The eurozone sovereign debt crisis has escalated, but recent moves by the European Central Bank have calmed that angst for now. However, analysts have waxed sceptical that these […]
EUROPE: This Is What Will Happen In 2012
Markets

ECONOMIST: Screw Treaty Change, This Is How The ECB Can Fix Europe Tomorrow

[credit provider=”www.planetofsuccess.com via photosteve101 on Flickr” url=”http://www.planetofsuccess.com/”] The European Central Bank can actually solve the governance problems that got Europeans into this mess virtually immediately and without treaty change, Geneva-based economist Charles Wyplosz writes in a column out this morning on Wall Street Pit.In fact, the whole idea that EU […]
ECONOMIST: Screw Treaty Change, This Is How The ECB Can Fix Europe Tomorrow
News

MERKEL: ‘Next Year Will No Doubt Be More Difficult Than 2011’

[credit provider=”AP/Remy de la Mauviniere”] Not much of a “happy new year” in Europe … From the Financial Times:  Europe’s leaders warn of tough 2012 … Nicolas Sarkozy, president of France, said the gravest crisis Europe has faced since the second world war “is not over” and Angela Merkel, German […]
MERKEL: ‘Next Year Will No Doubt Be More Difficult Than 2011’
Markets

THINK TANK: 2012 Is The Beginning Of The End For The Euro

[credit provider=”HUD” url=”http://commons.wikimedia.org/wiki/File:Pruitt-Igoe-collapses.jpg”] The euro just celebrated its 10th birthday.But that birthday celebration came with little fanfare as the currency bloc continues to struggle to work out its debt debacle.
THINK TANK: 2012 Is The Beginning Of The End For The Euro
Markets

EURO-MESS: Your Complete Guide To All Of Those Euro Crisis Acronyms And Abbreviations

[credit provider=”Valerie Everett on Flickr” url=”http://www.flickr.com/photos/valeriebb/4633606752/”] These days, the news about Europe seems garbled by a lengthy list of acronyms and abbreviations, and it’s hard to keep track of which is which.So let’s set that straight. Here we give you your ultimate guide to the most important European institutions.
EURO-MESS: Your Complete Guide To All Of Those Euro Crisis Acronyms And Abbreviations
Markets

The Eurozone Crisis For Dummies

[credit provider=”Simone Foxman for Business Insider and studio dummies on Flickr” url=”http://www.flickr.com/photos/studiomuscle/56876565/#/”] The market still seems to be moving to every headline out of the eurozone, but it’s hard to remember what’s important.So let’s bring this back into perspective.
The Eurozone Crisis For Dummies
Markets

These 10 Dates Are Crucial For The Future Of Europe

[credit provider=”Steve Hodgson on Flickr” url=”http://www.flickr.com/photos/craiglea/6032968014/#/”] As the news cycle winds down for the year, it remains clear to investors that the eurozone crisis is far from over.After action by the European Central Bank last week to shore up bank liquidity, investor sentiment has soured. Banks are storing a record […]
These 10 Dates Are Crucial For The Future Of Europe
Markets

Scratch Bailouts, Now Germany Wants To Institute A Growth Fund

[credit provider=”rockwilda via Flickr” url=”http://www.flickr.com/photos/rockwilda/2283715897/”] Reuters reports that Germany is now seeking to channel remaining money available as part of EU structural aid funds into a separate fund to stimulate growth in struggling European sovereigns.That report cites an anonymous source within the German government, who says that Germans will attempt […]
Scratch Bailouts, Now Germany Wants To Institute A Growth Fund
Markets

December 22: Top Stories From Open Europe

Mixed response to ECB’s €489bn lending operation The response to the ECB’s €489bn long term lending operation continues to be mixed, despite the level of funding requested exceeding expectations. After an initial boost yesterday, markets stagnated and borrowing costs for struggling eurozone countries moved higher. Of the €489bn only €200bn […]
December 22: Top Stories From Open Europe
Markets

THE FALLOUT: What Today’s Massive ECB Liquidity Operation Actually Means

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:EUR_5_holographic_band.jpg”] Early today 523 banks requested an unprecedented €489 billion ($640 billion) in super-cheap funding from the European Central Bank.But the massive lending operation has garnered only a tepid response from markets, with short-term government bond yields rising in Italy and Spain, and markets virtually unchanged on […]
THE FALLOUT: What Today’s Massive ECB Liquidity Operation Actually Means
Markets

European Markets Shoot Higher As Investors Wait On ECB Action

[credit provider=”Steve Jurvetson on Flickr” url=”http://www.flickr.com/photos/jurvetson/2903330985/”] European markets drove higher today, with investors hoping that the European Central Bank’s bank funding operation tomorrow will prove a turning point in the eurozone crisis.DAX: +3.06%
European Markets Shoot Higher As Investors Wait On ECB Action
Markets

BRAND NEW NUMBERS: Here’s Who Gets Crushed If Greece Goes Bust

[credit provider=”Milos Bicanski / Getty”] EU leaders are dithering over a plan to save the eurozone, as Greece edges closer to the brink of default.The country continues to struggle with a massive debt burden and will do so for the foreseeable future, despite the fact that private investors will likely […]
BRAND NEW NUMBERS: Here’s Who Gets Crushed If Greece Goes Bust
Markets

EU Finance Minister Will Make Plans To Secure Up To €200 Billion In IMF Aid Today

[credit provider=”Pawelmorski” url=”http://twitter.com/Pawelmorski/statuses/144887543933042688″] EU finance ministers will finalise plans to get as much as €200 billion ($261 billion) in aid from the IMF when they speak in a conference call at 9:30 AM ET today, according to Bloomberg.They’ll try to impose a deadline for contributions and passage of budget rules […]
EU Finance Minister Will Make Plans To Secure Up To €200 Billion In IMF Aid Today
Markets

NO DICE: Here’s Why The ECB’s Newest Gamble To Save The Euro Won’t Work

[credit provider=”Qfamily on Flickr” url=”http://www.flickr.com/photos/dasqfamily/1455144539/”] Speculation that the European Central Bank may already have solved the sovereign debt crisis is all the rage today, but jubilation over the new measures is short-sighted.While the ECB’s liquidity support measures may indeed slow the momentum of the crisis significantly, they still do nothing […]
NO DICE: Here’s Why The ECB’s Newest Gamble To Save The Euro Won’t Work
Markets

GOLDMAN: The Fire Is NOT Going To Come Out Of European Bond Markets Anytime Soon

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:Forestfire2.jpg”] Progress made in last week’s meeting of the European Central Bank and at the summit of EU leaders was “material,” however at the end of the day, nothing has been implemented and nothing has really changed.While EU leaders are clearly working towards a more sustainable euro […]
GOLDMAN: The Fire Is NOT Going To Come Out Of European Bond Markets Anytime Soon
News

Russia Just Pledged At Least $10 Billion To Help Save The Eurozone

[credit provider=”flickr user: Contando Estrelas” url=”http://www.flickr.com/photos/elentir/3492248208/sizes/o/in/photostream/”] BRUSSELS (AP) — Russia, hoping to keep its largest export market from collapsing, will give at least $10 billion to the International Monetary Fund to help support the struggling euro currency, an aide to President Dmitry Medvedev said Thursday.Russian officials have said in the […]
Russia Just Pledged At Least $10 Billion To Help Save The Eurozone
Markets

The Story Of France, And Why Everyone Thinks It’s Going To Lose Its AAA

[credit provider=”Frank Mulliez/ Fotopedia” url=”http://www.fotopedia.com/ios/above_france”] Although a French official told WSJ that S&P has not yet informed the French government about its rating intentions, market chatter is still all about when—not if—France will lose its prized AAA rating.But there are more hurdles facing France right now than just its credit […]
The Story Of France, And Why Everyone Thinks It’s Going To Lose Its AAA
Markets

How Europe Is Already Killing The US Economy

The eurozone debt crisis has been capturing more than market headlines recently, and now even the Federal Open Market Committee appears to be pinpointing Europe as the only thing that can derail the U.S. economy right now.
How Europe Is Already Killing The US Economy
News

An Irish EU Treaty Referendum Would Effectively Be A Vote On The Euro

[credit provider=”AP” url=”http://www.apimages.com/OneUp.aspx?st=k&kw=ireland%20jobs&showact=results&sort=relevance&intv=None&sh=10&kwstyle=and&adte=1316543303&pagez=60&cfasstyle=AND&rids=db2ea9ec15df4f87a6af2ef9ef31e88d&dbm=PY2010&page=1&xslt=1&mediatype=Photo”] IRELAND’S POTENTIAL REFERENDUM on whether to ratify last week’s European financial treaty will be tantamount to a vote on whether Ireland wishes to remain in the eurozone, finance minister Michael Noonan has said.The minister for finance, speaking in London in advance of a meeting with chancellor George […]
An Irish EU Treaty Referendum Would Effectively Be A Vote On The Euro
Markets

The Dangers Of Overthinking The Euro Crisis

It’s hard to avoid the daily updates on the crisis in Europe. The financial troubles once concentrated in Greece and Ireland have broadened in scope, raising deeper questions and prompting gloomy predictions. Some wonder whether the euro can survive. Others think it will, but only at the cost of deep […]
The Dangers Of Overthinking The Euro Crisis
Markets

Fitch Comes To A Depressing realisation: A ‘Comprehensive Solution’ To The Euro Crisis Is Just Not On The Table

[credit provider=”Fricke_K on Flickr” url=”http://www.flickr.com/photos/[email protected]/3082884774/sizes/l/in/photostream/”] EU leaders made progress on their summit on Friday but their aversion to an “immediate comprehensive solution” is going to kill the European economy, Fitch Ratings opines in a new report out today.Eventually, EU leaders are still going have to give in and expand the […]
Fitch Comes To A Depressing realisation: A ‘Comprehensive Solution’ To The Euro Crisis Is Just Not On The Table
Markets

OECD: Animal Spirits Are Behind Soaring Sovereign Borrowing Costs

[credit provider=”www.cr.nps.gov” url=”http://www.cr.nps.gov/history/online_books/fauna5/faunat.htm”] The Organisation for Economic Co-operation and Development (OECD) will soon publish a report that says its constituent governments’ gross borrowing needs will be around $10.4 trillion in 2012, reports David Oakley of the Financial Times.However, the primary concern is not the size of the borrowing, which was […]
OECD: Animal Spirits Are Behind Soaring Sovereign Borrowing Costs
Markets

4 Top Wall Street Experts Weigh In On Friday’s EU Budget Deal

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:ThinkingMan_Rodin.jpg”] NEW YORK (AP) — The financial world initially rejoiced Friday when word came of a deal by most European countries — including all 17 that use the euro — to allow the European Commission to oversee national budgets and impose penalties if a country’s debt grows […]
4 Top Wall Street Experts Weigh In On Friday’s EU Budget Deal
Markets

BRAND NEW NUMBERS: 20 Banks That Are Praying Europe Doesn’t Go Bust

[credit provider=”nicolafchild on Flickr” url=”http://www.flickr.com/photos/[email protected]/4008495663/”] The newest round of European Banking Authority tests of bank capital came out this week, and one thing is clear: everyone’s deleveraging, and fast.The EBA has told EU banks that they must raise a total of €114.69 ($153.31 billion) in quality capital to meet the […]
BRAND NEW NUMBERS: 20 Banks That Are Praying Europe Doesn’t Go Bust
Markets

Europe Is About To Enter A ‘Legal Minefield’ On This New Treaty

[credit provider=”ABC Video”] London-based think tank Open Europe details why their negative outlook for Europe hasn’t changed after the EU summit meetings Thursday and Friday, and why the legal battles ahead for the eurozone could overwhelm their policy response.In particular, take a look at their analysis of the U.K. increasingly […]
Europe Is About To Enter A ‘Legal Minefield’ On This New Treaty
Markets

LIVE: EU Leaders Announce Their New Plan To Save The Euro With A New EU Treaty

[credit provider=”Woodleywonderworks at Flickr” url=”http://www.flickr.com/photos/wwworks/2712985768/”] In Brussels, the Euro summit continues into a big day Friday.So far, EU leaders have agreed on some progress towards a “fiscal compact” that would take steps towards increased integration of the European Union on an economic level.
LIVE: EU Leaders Announce Their New Plan To Save The Euro With A New EU Treaty
Markets

Here’s Everything That Happened At The EU Summit

[credit provider=”AP/Michel Euler, Pool”] UPDATE: After a series of press conferences just now, EU leaders seem to be holding to the decisions made in the draft statement we outlined below.Initial market reaction appears negative in Europe, although U.S. futures don’t appear to have moved much.
Here’s Everything That Happened At The EU Summit
Markets

December 9: Top Stories From Open Europe

Cameron wields veto over EU Treaty change as deal on the table was “not in Britain’s interest” As yesterday’s summit of EU leaders dragged late into the night, UK Prime Minister David Cameron vetoed an EU Treaty change intended to accommodate further fiscal integration between eurozone members, on the grounds […]
December 9: Top Stories From Open Europe
Markets

These Are The 10 Big Issues At The Heart Of The Euro Crisis

[credit provider=”YouTube”] It used to be the Greece, then it was the PIGs (Portugal, Ireland, and Greece), then it was the PIIGS (Portugal, Italy, Ireland, Greece, and Spain), and now it seems that the entirety of the eurozone is at risk.Right now, EU leaders are trying to agree on a […]
These Are The 10 Big Issues At The Heart Of The Euro Crisis
Markets

Battles Over The Permanent EU Rescue Fund Underscore The Major Flaw Of The Eurozone

[credit provider=”www.time.com” url=”http://www.time.com/time/covers/0,16641,20110822,00.html”] Disagreements about the European Stability Mechanism appears to be the latest squabble dividing EU leaders.Legal battles over the ESM—the permanent successor to the European Financial Stability Facility—have long been a cause of concern. This battle is escalating now that EU leaders seem to be banking on the […]
Battles Over The Permanent EU Rescue Fund Underscore The Major Flaw Of The Eurozone
Markets

REPORT: At Least One European Central Bank Is Dusting Off Its Old Printing Press

[credit provider=”Wikipedia” url=”http://upload.wikimedia.org/wikipedia/commons/f/f8/Printer_in_1568-ce.png”] As the eurozone debt crisis persists, one plan of action that hasn’t been completely pulled off the table is a break up of the eurozone, which would involve countries abandoning the euro.According to WSJ reporters David Enrich, Deborah Ball and Alistair MacDonald, at least one eurozone country’s […]
REPORT: At Least One European Central Bank Is Dusting Off Its Old Printing Press
Markets

S&P JUST PUT THE EUROPEAN UNION ON CREDITWATCH NEGATIVE

[credit provider=”NASA” url=”http://apod.nasa.gov/apod/astropix.html”] Standard & Poor’s ratings service just put the long-term rating of the European Union on “creditwatch negative.”With the eurozone accounting for 62% of the European Union’s budgeted revenues in 2011, it would seem that the greater, 27-state European Union is also vulnerable to the crisis.
S&P JUST PUT THE EUROPEAN UNION ON CREDITWATCH NEGATIVE
Markets

Wrestling With The Imponderable Idea Of A Euro Breakup

Opinion polls and surveys are finding an increasing number of people expect one or more countries to leave the euro zone. Investors are anxious. What is to be done ? What makes this so difficult is that there are so many moving parts and possibilities. The way the question is […]
Wrestling With The Imponderable Idea Of A Euro Breakup
Markets

The Eurozone’s New EU Treaty Will Divide Europe

[credit provider=”e-magic on Flickr” url=”http://www.flickr.com/photos/emagic/56206100/sizes/l/in/photostream/”] Perhaps the biggest news out of a meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy on Monday was the announcement that they could pass a new treaty with the approval of only 17 eurozone nations, not the full 27 countries that are […]
The Eurozone’s New EU Treaty Will Divide Europe
Markets

4 Key Disagreements Weigh On EU Leaders

[credit provider=”commons.wikimedia.org” url=”http://commons.wikimedia.org/wiki/File:Bar_bending.jpg”] The EU Summit begins in a little more than 24 hours and the signals coming from European officials are anything but encouraging.There are several areas of disagreement. It is simplistic just to cast this as a German vs France difference, but it does suffice to capture the fissure. […]
4 Key Disagreements Weigh On EU Leaders
Markets

WHOA: Europe’s ‘New Fiscal Compact’ Could Be Adopted Almost Immediately

[credit provider=”US Navy” url=”http://www.navy.mil/management/photodb/photos/990707-N-6483G-001.jpg”] Europe may have a highly technical way to fast-track a “new fiscal compact” to control debts and deficits, according to a report by European Council President Herman Van Rompuy and obtained by FT blogger Joshua Chaffin.In fact, all such changes would require is unanimous approval of […]
WHOA: Europe’s ‘New Fiscal Compact’ Could Be Adopted Almost Immediately
Markets

EU Leaders Are Considering Doubling The Euro Bailout Fund At The Last Minute

[credit provider=”rheeks via flickr” url=”http://www.flickr.com/photos/[email protected]/3602239579/sizes/o/in/photostream/”] The FT reports that EU leaders are considering permitting the temporary European Financial Stability Facility to continue running once the €500 billion ($670 billion) European Stability Mechanism—the EFSF’s permanent successor—gets up and running around the middle of next year.Continuance of the €440 billion ($590 billion) […]
EU Leaders Are Considering Doubling The Euro Bailout Fund At The Last Minute
Markets

WAIT! Is Europe About To Do ‘The Single Worst Thing It Can Do’?

Yesterday German Chancellor Angela Merkel and French President Nicolas Sarkozy announced that they will eliminate certain provisions regarding private sector involvement from the European Stability Mechanism—the permanent successor to the European Financial Stability Facility.The European Central Bank is probably cheering as it has strongly opposed initiatives to make the private […]
WAIT! Is Europe About To Do ‘The Single Worst Thing It Can Do’?
Markets

WILLEM BUITER: This Is How The Euro Crisis Will End

[credit provider=”Bloomberg TV” url=”http://www.bloomberg.com/video/80559810/”] Citi’s Chief Economist Willem Buiter is out with a new note, and it’s negative about the long-term prospects for European sovereigns like Italy, Spain, and Belgium—not to mention the already ailing Portugal, Ireland and Greece.However…
WILLEM BUITER: This Is How The Euro Crisis Will End
Markets

IT’S OFFICIAL: S&P Goes On Downgrade Watch Rampage

[credit provider=”Robosaurus” url=”http://www.robosaurus.com/2010/pages/slideshow.html”] Bombshell news that Standard & Poor’s ratings service was about to place all 17 countries of the eurozone on downgrade review—including the AAA-rated Germany, France, the Netherlands, Austria, Finland, and Luxembourg—stunned markets today.In total, 15 countries from the European Economic and Monetary Union were put on downgrade […]
IT’S OFFICIAL: S&P Goes On Downgrade Watch Rampage
News

The ‘Austerity Club’ Euro Deal Is Not Going To Work

[credit provider=”AP/Michel Euler, Pool”] Italy is pressing forward with a package of austerity reforms, including tax increases on the wealthy, a ban on cash transactions over $1,000 (to reduce tax evasion), and a fairly radical pension reform which will raise retirement ages and change the way that pensions are calculated […]
The ‘Austerity Club’ Euro Deal Is Not Going To Work
News

A Look Back On Belgium’s Record Breaking 535 Days Without Government

[credit provider=”Wikimedia Commons” url=”http://en.wikipedia.org/wiki/File:2007_07_Belgium_Brussels_06_%28cropped%29.jpg”] After 535 days without a government, it appears Belgium has finally reached a deal that will see the two main parties form a coalition.Now let’s take a look back at what caused one of the strangest moments in modern European history — and how Belgian leaders […]
A Look Back On Belgium’s Record Breaking 535 Days Without Government
Markets

All The Headlines Imply That A Eurozone Endgame Is In The Works

Well, TMM recently noted that they’re gaining faith in “Luck” and that new faith was rewarded yesterday. Despite getting the China PMI call wrong, TMM really didn’t care as the confluence of the PBoC’s RRR cut, a globally coordinated policy response and strong US data resulted in their being greeted by a […]
All The Headlines Imply That A Eurozone Endgame Is In The Works
Markets

Why December 9 Could Be One Of The Biggest Days In The History Of Europe

[credit provider=”NASA”] If you’re watching Europe, then the biggest date on your mind is probably December 9.That’s when EU leaders meet for their next big summit in Brussels. Investors and journalists appear convinced that this meeting will be a make-it-or-break-it moment for the euro area, and for three good reasons:
Why December 9 Could Be One Of The Biggest Days In The History Of Europe
Markets

Cowen’s Sean Pignatell On Why Peripheral Sovereign Debt Is ‘Completely Uninvestable’

[credit provider=”en.wikipedia.org” url=”http://en.wikipedia.org/wiki/File:Deutsche_Mark(Gold-2001).jpg”] Sean Pignatell of Cowen International just put out a new note calling peripheral European debt “completely uninvestable” and predicting the end of the eurozone unless the European Central Bank makes a commitment to “unconditional and unlimited” intervention in the sovereign bond market.That’s because it is now impossible […]
Cowen’s Sean Pignatell On Why Peripheral Sovereign Debt Is ‘Completely Uninvestable’
News

Obama’s Team Is In ‘Morbid Fear’ Of A Eurozone Meltdown

[credit provider=”The White House” url=”http://www.flickr.com/photos/whitehouse/5640486489/in/set-72157626421975237/”] In public, President Barack Obama has kept his cool about Europe, rarely speaking out on the subject other than to encourage his counterparts across the Atlantic to act swiftly to stave off catastrophe. But privately, the FT’s Richard McGregor reports, Obama is in “morbid fear” of […]
Obama’s Team Is In ‘Morbid Fear’ Of A Eurozone Meltdown
Markets

This Is A Turning Point For Germany And The Euro Crisis

[credit provider=”Reuben Whitehouse on Flickr” url=”http://www.flickr.com/photos/rcktfld/2264092951/”] This is a new day for Europe.A failed German bond auction last week has spurred a turnaround in Europe, according to WJB Group Chief Market Strategist Brian Reynolds.
This Is A Turning Point For Germany And The Euro Crisis
Markets

EU LEADERS: Here’s Our Big Bazooka!

[credit provider=”www.flickr.com” url=”http://www.flickr.com/photos/rodimuspower/4295993935/”] EU Commissioner Olli Rehn, Eurogroup president Jean-Claude Juncker, and EFSF head Klaus Regling outlined their plans for leveraging the European Financial Stability Facility in a press conference after a meeting of eurozone finance ministers today.The officials appeared to make some concrete progress on plans to expand the firepower […]
EU LEADERS: Here’s Our Big Bazooka!
News

Here’s The Easy Solution To The Euro-Crisis That Absolutely No One Will Discuss

[credit provider=”Wikipedia” url=”http://en.wikipedia.org/wiki/File:DeMilleTenCommandmentsDVDcover.jpg”] Last weekend, we wrote about how the Euro-crisis should be resolved: The same way all debts-that-can’t-be-repaid get resolved–via bankruptcy and restructuring.This is the simple, fair solution to the crisis, but of course no one is discussing it because it would involve “losses.”
Here’s The Easy Solution To The Euro-Crisis That Absolutely No One Will Discuss
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