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Europe on the Brink [Documentary]
Europe on the Brink is a Wall Street Journal documentary on the origins of the European debt crisis, and how it spread to threaten the Euro and the global economy and financial system. The documentary explains things like "private sector involvement" - a euphemism for bond holder losses; a scheme which set bond yields soaring in Greece, Spain, Italy, and Portugal. The documentary also talks about the central bailout fund (EFSF - European Financial Stability Facility, which is to be succeeded by the ESM - European Stability Mechanism) which was designed to satisfy bond markets and set up a firewall for the crisis by ... (full story)