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The European Debt Bomb Fuse Is Lit!
02-26-2017, 09:19 PM,
#1
The European Debt Bomb Fuse Is Lit!
The European Debt Bomb Fuse Is Lit!

<p>Vast liabilities are being switched quietly from private banks and investment funds onto the shoulders of taxpayers across southern Europe. It is a variant of the tragic episode in Greece, but this time on a far larger scale, and with systemic global implications. There has been no democratic decision by any parliament to take on these fiscal debts, rapidly approaching €1 trillion. They are the unintended side-effect of quantitative easing by the European Central Bank, which has degenerated into a conduit for capital flight from the Club Med bloc to Germany, Luxembourg, and The Netherlands.</p>


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