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And the Crisis Continues…

The Fiscal Times, July 14, 2011: These Little Piggies Got Bailed Out, These Got None

After  international markets went into a panic earlier this week over concerns that Italy, the European Union’s third largest economy, would not be able to pay its debt – which  amounts to 120 percent of the country’s GDP – the Italian Senate today passed an austerity measure, cutting some $57 billion in spending. An Italian bond auction also successfully raised $8 billion.

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