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Message Subject THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Poster Handle RoXY
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Kicking The Can Down The Road: Europe Still Headed for the Greatest Financial Crisis Since the Great Depression
Michael Snyder, Contributor
Monday, July 2, 2012
Activist Post

Has Europe finally been saved this time? Has this latest "breakthrough" solved the European debt crisis?

Of course not.

European leaders have held 18 summits since the beginning of the debt crisis. After most of the preceding summits, global financial markets responded with joy because European leaders had reached "a deal" which would supposedly solve the crisis.

But a few weeks after each summit it would become clear that nothing had been solved and that the financial crisis had actually gotten even worse than before. How many times do they expect us to fall for the same sorry routine?

Nothing in Europe has been solved. You can't solve a debt problem with more debt. European leaders are just kicking the can down the road. More debt will relieve some of the short-term pressure, but in a few weeks it will be apparent that the underlying problems in Europe continue to grow. Unfortunately, there is not an unlimited amount of EU bailout money, so once all of these "financial bullets" have been fired European leaders are going to find that kicking the can down the road will not be so easy anymore. The truth is that the financial crisis in Europe has not been cancelled - it has just been put off for a few weeks or a few months.

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