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Despite the rescue package that the European Union and International Monetary Fund offered Greece, there are concerns that the crisis could turn into a full-blown European banking disaster that could choke credit to businesses and consumers at a time when the Continent’s economy remained fragile.
Markets Slump on Europe Debt Worry (NYT)
The prospect of this spreading - to the rest of Europe and then to us - is very worrying. I don’t think this next decade will be a good one.
Posted on May 5, 2010 ()