GREY:INNHF - Post by User
Post by
sueronon Jul 15, 2011 3:24pm
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Post# 18836878
Lots of Good News From Europe??
Lots of Good News From Europe??July 15 (UK Guardian)
Even assuming that these ideas are greeted as workable, Europe may not be ready for such radical suggestions. A collective solution will be costly: some estimates put the price tag at €2tn. Policymakers may balk at the cost. They may prefer to stick to the current mantra of austerity, austerity and still more austerity. But they are dicing with disaster if they do so. Privately, some senior bankers are saying that Europe has a matter of days to get its act together before an implosion of the single currency triggers a second phase to the global financial crisis.
Be clear: were that to happen it would make the recession of 2008-09 seem mild by comparison.
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