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Sliding towards financial disaster

Whilst amusing, the theatre of Greek and Italian politics is irrelevant to the financial disaster that now looms for Europe. An inability to diagnose and deal with the problem means that the European debt problems may have reached a point of no return, which a change of leadership and technocratic governments cannot arrest. With the problems having now reached Italy (which has ¤1.9tn in debt, more than five times Greece’s ¤370bn), the policy options and political will to deal with the issues are now limited.

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