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Europe at the Abyss

By Robert Samuelson
WASHINGTON -- It has come to this. A year after rescuing Greece from default, Europe is staring into the abyss. The bailout has proved insufficient. Greece needs more money, and it can't borrow from private markets where it faces interest rates as high as 25 percent. But Europe's governments are reluctant to advance more funds unless other lenders -- banks, bondholders -- absorb some losses by... (Read Full Article)

Robert Samuelson
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