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News & Analysis » Europe

German Bond Auction Fails, Sends Banks Near Cliff

November 24, 2011, Thursday
With fears of sovereign debt defaults in the so-called ‘PIIGS’ nations hogging all of the headlines for the past two months the failure of economic powerhouse Germany to hold a successful treasury bond auction ratcheted up those fears even higher. If Europe is not at the financial equivalent of Defcon 1 yet one has to wonder what it will take for that to occur.

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