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Europe's Web of Debt
Posted: 5 May 2010

The New York Times provides a nice illustration of the mess:
"Banks and governments in these five shaky economies owe each other many billions of euros — converted here to dollars — and have even larger debts to Britain, France and Germany."
Are these becoming 'sub-prime' countries?

Tables turned as BRIC markets boom
Dateline: 1 February 2015
Portugal, Italy, Ireland, Greece and Spain have certainly had a negative impact on the Euro zone in the past five years. Many will tell you that the PIIGS acronym has been totally deserved - politically and economically. Complicit involvement from investment banks and deliberate concealment of debt levels by other EU countries threatened to tear the economic union apart, and lead to riots. ...
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