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2016-02-16

The rout in European financial markets last week was a wat­ershed event. Münchau

What we saw — at least here in Europe — is the return of the financial crisis.

The toxic twins: the interaction between banks and their sovereigns.

Italy’s position may be better than Portugal’s but it is still not sustainable. 

Europe’s banking union has failed.
No deposit insurance and no government backstop to bail out failing lenders.



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