Economic

In Euro Zone, Banking Fear Feeds on Itself

“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.

European policy makers, determined to avoid such a catastrophe, are prepared to use hundreds of billions of euros of bailout money to prevent any major bank from failing. “

(In Euro Zone, Banking Fear Feeds on Itself – NYTimes.com)

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