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Reports of ‘Tough Year Ahead’ for Eurozone Sets Stage for Further Austerity – 5 January 2012

By Nelson D. Schwartz of the The New York Times link to article:

Protesters hold a banner which reads “no to the austerity policy, raise the salaries” during a demonstration to protest against austerity measures in Paris, Tuesday, Dec. 13, 2011. (AP Photo/Michel Euler) “Europe’s leaders are bracing their nations for a turbulent year, with their beleaguered economies facing a threat on two fronts: widening deficits that force more borrowing but increasing austerity measures that put growth further out of reach.

“French President Nicolas Sarkozy will meet Jan. 9 with German Chancellor Angela Merkel to discuss a new fiscal treaty intended to impose stringent budget requirements on European Union nations. Continue reading

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