U.S. Banks Aren’t Nearly Ready for Coming European Crisis
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June 25 (Bloomberg) -- The euro area faces a major economiccrisis, most likely a series of rolling, country-specificproblems involving some combination of failing banks andsovereigns that can’t pay their debts in full.
This will culminate in systemwide stress, emergencyliquidity loans from the European Central Bank and politiciansfrom all the countries involved increasingly at one another’sthroats.