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Add the fact that except for the UK and Ireland, private debt (and therefore global debt) is much lower than in the US. Also saving rates are around 15% in the Eurozone.

"Dieu se rit des hommes qui se plaignent des conséquences alors qu'ils en chérissent les causes" Jacques-Bénigne Bossuet
by Melanchthon on Tue Sep 29th, 2009 at 08:15:23 AM EST
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