Source: Greg White
- 0:30 The problem of a the eurozone crisis has been contained by the bailout, but they must make cuts or it could expand; markets will remain volatile in the interim.
- 1:25 Markets are asking whether Greece can politically follow through on austerity.
- 2:30 UK, UK, and Japan all have similar sovereign debt crises, and the result could be inflation in the long run.
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Nouriel Roubini's Excellent Definition Of A Financial Crisis:
- "Indeed, a practical definition of a financial crisis is an event that forces policy officials to spend a long weekend trying desperately to announce a new bailout package in order to avoid national and global panic before the markets open on Monday."
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