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Monthly Archives: January 2012

Yet Again, the EU is a Step Behind

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Following the European Council Summit in December of last year, leaders agreed to accelerate entry of the European Stabilization Mechanism (ESM), the permanent successor to the European Financial Stability Facility (EFSF) to July of this year. Given increased pressure on the remaining triple-A guarantors of the EFSF, this shift to the ESM, which will draw […]

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