Friday's meeting of euro zone finance ministers in Poland is clearly an event risk for market bears. But already the big idea for solving Europe's debt problem is dead in the water.
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The latest proposed fixes for the euro crisis disappointed markets and sent bank stocks tumbling. They "plan to support the banking system but they are going to charge them for it," a trader said.
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Even as the U.S. grapples to bring its debt under control, Asia has another problem on its hand: surging currency reserves, mostly in dollar denominated assets. But experts say there's no easy solution to the problem.
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The U.S. should choose to default instead of delaying the inevitable by raising the debt ceiling without dealing with the crux of the financial problems, David Murrin, chief investment officer at Emergent Asset Management told CNBC Monday.
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For years America has warned, lectured and cajoled the Chinese to allow the yuan to rise in a bid to end the fiscal imbalances that have seen more and more US debt sit in the People’s Bank of China's vaults.
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