Fears mounted Wednesday that Europe’s debt crisis is reaching a critical tipping point, spreading from Greece, Ireland and Portugal to the larger economies of Italy and Spain.The deepening woes raised the prospect of a crisis that would be almost as calamitous for the global economy as the one just avoided in Washington.
Source: http://www.realclearpolitics.com/2011/08/04/in_europe_debt_crisis_only_intensifies_260804.html
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