Wednesday, September 7, 2011

In Euro Zone, Banking Fear Feeds on Itself

In Euro Zone, Banking Fear Feeds 
on Itself
News Link  •  Economy - International

09-06-2011  • 
Remember the collapse of Lehman Brothers? Europeans certainly do.
“This crisis has the potential to be a lot worse than Lehman Brothers,” said George Soros, the hedge fund investor, citing the lack of a pan-European body to handle an extreme banking crisis.
As Europe struggles to contain its government debt crisis, the greatest fear is that one of the Continent’s major banks may fail, setting off a financial panic like the one sparked by Lehman’s bankruptcy in September 2008.
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Reported by Ernest Hancock

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