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The Way Out Leads Nowhere

The Fiscal Times, August 17, 2011: ‘Merkozy” Plan Falls Flat as Investors Balk

German Chancellor Angela Merkel and French President Nicolas Sarkozy strode confidently to the podium yesterday, ready to announce a plan that would finally put an end to the European debt crisis. For a year and a half, the leaders of Europe’s two strongest economies had taken baby steps to staunch the crisis, caused by unsustainable debt throughout the continent. But their actions fell short of expectations and did little to placate investors.

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