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Tonight’s Campus Question
McClatchy reports European credit markets sinking after German Economic Minister Philipp Rösler said Greece may require an “orderly default” on her bonds. Greece had invested heavily in U.S. mortgage-backed securities, and the 2008 crash created her debt crisis. Harvard University economist Kenneth Rogoff told McClatchy that European markets may have to reach a “breaking point” before governments will act. Is political paralysis becoming the new normal in governments worldwide?