Europe’s trillion euro problem
The European Central Bank's clearing mechanism, Target 2, is a serious threat to global financial stability.
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Hawke’s Bay
Some people fear rising sea levels, asteroids hitting the earth or global pandemics. It is easy to be scared of such threats because one can easily understand them.
With other risks, being appropriately scared is much harder. Some problems are just too complicated to cause the fear they deserve.
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Europe’s trillion euro problem
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