Europe's Economic Crisis Intensifies

Lisa Bryant, Voice of America, 09.11.2011

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Europe's financial and political problems deepened, as stock markets tumbled, Italian bond yields rose over the political turmoil in Rome, and a new coalition government prepares to take over in Greece. […]

The fast moving events have left analysts like Janis Emmanouilidis, of the Brussels-based European Policy Center, uncertain about where Europe is headed.

"What is obvious is that the crisis has again reached a new level, a new phase. At the same time we are seeing E.U. member states,  especially Berlin and Paris, Germany and France, ready to act more boldly than they have this summer... At the same time, we do not know whether this crisis has reached a size in which it has become unstoppable or whether we are in a way in the final phase of it," said Emmanouilidis. [...]

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