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The Financial Domino Effect: How to Profit Now in the Volatile Global Economy by Ben Emons

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Chapter 6Disintegration of the European Monetary Union: A Prelude

In this chapter, the financial domino effect framework that was discussed in preceding chapters will be applied to a real-time crisis, namely, the European sovereign debt crisis. To better understand the root causes of this crisis, this chapter focuses mainly on the description of a number of factors that have contributed to today’s turmoil. These factors were part of a lengthy buildup process before the first effects were seen. Like an earthquake that is long overdue, warned about for years, the initial tremors of this crisis served as warning signals but were followed by a big bang that was unexpected. Such was the case for the sovereign debt crisis in Europe, where after years ...

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