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Reuters Asks: Who's to blame? U.S. or Europe?

Friday, June 22, 2012 - 02:03

June 22 - With accusations of blame for the current crisis being fired from both sides of the Atlantic, Reuters asks who you think is to blame.

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I think and we have to say that -- You can you can first point to the US is -- market may be Bill Clinton who encouraging. Banks to lend a mobile money to disadvantaged families and then that the the closest that we had to follow that -- That's the starting point. What we have to say though is that you look at compounded it by not addressing the issues of the -- out of that. The epicenter of this. Was in the United States in that -- in the beginning. And in various shapes and forms it's come across the Atlantic. I think politicians. Four and in -- -- -- if you -- it. Continuously beyond your means and I think there was -- an -- comment on -- announced this morning let's say. What we do and always discussing the question that should've -- it -- when you're the go to a musical. I think that they ultimately diminishes his -- policy. So they have to take the blame. I think kids they were wounded so to claim to be honest because. -- through periods where it. -- in the west moments -- initiative. I don't know what happens himself that prices and if it's not just states to test your I think it's extremely ultimately that's going through this and it sounds like a I think we wouldn't go here. A whole -- not in many ways been a perfect storm. A failure by them regulate is. So it's pretty irrational exuberance in certain areas of the credit market. I don't think it's as simple as saying. It's older Americans fold or indeed into the European school boys when the banks hold. Says -- a lot of the different things have gone wrong in the world economy is the last ten years. IE seven America this slicing and dicing of mortgages that people and -- BO pay off and then European investors. To. Bullets into a world of cheap money and cheap mortgages and -- Carolina based on a bubble. Who have a stock today. It is is -- rather have a serious point is how did get to the stage and that's Europe's hold. It's the political decision making it comes to making -- something lacking at the top levels that's allowed it to get where we now.

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Reuters Asks: Who's to blame? U.S. or Europe?

Friday, June 22, 2012 - 02:03