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European debt crisis threatens U.S. equity markets

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Managing Real Estate Broker with EXIT Realty Leaders 20569187

The fear machine is rolling again. “Is The World’s Biggest Economy in Danger of Disintegrating?” It’s a CNBC story about the unraveling of the European Union 55 years after it was founded as the E.U. finds itself at odds with its member states.

Politicians put their own national interest first and blame whatever they can on the euro currency. In France, all of the candidates for the next presidential election have their own ideas and agendas for patriotism and protectionism. The Germans were not cooperative when it came to cutting Greece any slack. Even George Soros is down on the future of the EU for The Continent.

“Unless extraordinary steps were taken to save it from the consequences of the debt crisis, after injecting more liquidity into the system, the E.U. was unlikely to exist,” he said. “Latin American countries suffered a lost decade after 1982 and Japan has stagnated a quarter century, both survived but the E.U. is not a country and not likely to survive.”

(We should probably remind Mr. Soros the Latin America is not a country either.)

There’s no doubt the European model is flawed...

read the rest here: http://bit.ly/IgWCXH

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