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November 4, 2011

Europe, Still Looking For the Deep Pockets

EUROPE, STILL LOOKING FOR THE DEEP POCKETS

There has obviously been some progress made on resolving the Sovereign debt crisis in Europe. However, it remains to be seen whether their actions go far enough to put this crisis behind them. As I said in my Quarterly, unless there is recourse to some very “deep pockets”, this latest plan is likely to be considered just another attempt to “Kick the Can further down the Road.”