Unformatted text preview: holders — now mostly from the eurozone — and to fine tune the makeup of its debt rather than to avoid exposure to market forces. Resorting to private placements could also be interpreted by markets as a lack of confidence, the very thing Greece is keen to recover. Spreading from one European country to another, these debt troubles could lead to a pullback in bank lending, slowing the continent's economy further. That in turn might have an indirect effect on the recovery in the United States as Europeans reduce their demand for American products, effecting our economy as well. It just goes to show, that even when one country is in high debt, it can affect everyone else. http://www.washingtonpost.com/wp-dyn/content/article/2010/03/04/AR2010030404855_2.html? hpid=topnews&sid=ST2010030405002...
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- Winter '08
- European Union, private placements, public sector activities, latest austerity measures