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Eurozone indicators veer into the redAlthough the agreement reached in late October between the Eurozone countries and Greece had returned a semblance of calm to the financial markets, the failure of the G20, the dance of hesitation around the Greek assistance plan and faltering economic indicators are plunging Europe into a depression. Europe must simultaneously manage the repeated attacks on the sovereign debt of increasingly less marginal countries and the deterioration of its economy. Within the space of a few days, the Greek and Italian prime ministers had to step down from power as Italy's long-term rates crossed the 7% bar. Furthermore, as an indication of the market's distrust, spreads between the French and German longterm rates are at their highest.
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05 December 2011