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The road map for Europe is still 2008 in the US, with the end game a country by country socialization of their commercial banks. The fact is that the Germans are NOT going to pay for pan European structure to recap French and Italian banks - even though it is probably a more cost effective solution for both the German banks and taxpayers. (…) Expect a massive policy response in Europe and a move towards financial market nationlaization that will make the US experience look like a walk in the park.
Jeferries describes the endgame: Europe is finished - Zero Hedge
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