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“How does €700bn+€500bn+$430bn = crisis”: Bank of Singapore

“Markets are not reassured,” says Richard Jerram, chief economist at Bank of Singapore, referring to the worsening debt woes of the Eurozone. “To explain the numbers in the title; €700bn is the funding available to the European Stability Mechanism (ESM), due to be launched in July, after including the remaining €200bn of the European Financial Stability Facility (EFSF), which is…

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