WSJ: DEBT CRISIS TO TEST EUROPE IN 2010
By Daniel at 29 December, 2009, 4:52 pm
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By TERENCE ROTH
DECEMBER 29, 2009, 2:59 P.M. ET
After two years of crashing banking systems and economic recession, the euro zone enters 2010 with a full-blown debt crisis.
The European Commission warns that public finances in half of the 16 euro-zone nations are at high risk of becoming unsustainable. Governments will spend the next year and beyond balancing the urgent need to fix public-sector debt and deficits — without imperiling what appears to be a feeble economic recovery. Even the staunchest optimists in Brussels and Frankfurt see a rocky process, with rating firms poised for more downgrades and bond markets meting out daily judgment over how governments are doing.
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http://online.wsj.com/article/SB126210769622909163.html?mod=WSJ_hps_LEFTWhatsNews
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