Busted: Bankers and The Global Economy

February 23, 2010

Strength of EU and Euro Threatened

Filed under: banking, corporatism, credit, economy, money, politics — Tags: , , , , , , , , — digitaleconomy @ 10:46 am

With the ongoing financial plight of Greece, the European Union is facing a growing threat of national bankruptcies. The consequences would be profound for the whole of the continent, especially German banks, which are highly exposed to risky debt. EU politicians are feeling increasingly panicky.

Europe is one of the hotter topics on the global financial circuit. The value of the battered euro has been falling since the Greek government confessed to the actual scope of its debt, cobbled together with shaky securities and kept secret for years by complicit bankers. Things are not looking significantly better and EU politicians are looking for a solution that will contain the financial fire.

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