Global financial crisis: Europe to the rescue!
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Someday, when the history of the current, global financial crisis that started in the U.S. with the subprime-mortgage scandal is written, it will be noted that the governments of capitalist countries like the United Kingdom and the United States partly nationalized banks in a move that is already being referred to as the “Gordon Brown model,” named after Britain’s prime minister of the moment. (Now even the government of Switzerland is stepping in with a cash infusion in an effort to prevent UBS, the Swiss banking giant, from failing; reluctantly, it plans to pitch some 68 billion Swiss francs (nearly $60 billion) its way. (Neue Zürcher Zeitung))
admin @ October 20, 2008