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IPFS News Link • Economy - International
The tumult in the European monetary zone is spreading concern among
investors of a broader crisis in financial markets from Ireland to
Spain.
The worry is that the worst case, a Greek debt default, would lead to
damaging losses for European banks and spur a global panic, replaying
the events of September 2008. Then, investors fled all but the safest
government debt, unloading everything from corporate bonds to American
and emerging country stocks. Global markets froze.
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