The news this week of if Greece looking for at least longer time to repay bonds, and a worst just a reduced payment for lenders. This really could be the second part of the bankrupt state part of the recession.
The interesting twist of China now stepping in to back the Euro debt, their interest is to keep trade and export markets open - it does seem an interesting move on their part.
This may stop the Euro from completely collapsing, and maybe the breathing space needed for those states that take single currency responsibly to separate themselves from those who do not.
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