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COVER STORY: Political paralysis as markets implode

Patrick J. ByrneAug 20, 20115 min read

Standard & Poor’s downgrade of the United States government’s credit rating and the escalating debt crisis in Europe have pushed the financial markets towards Global Financial Crisis Mark II. Political brinkmanship in Washington took the U.S. to with 24 hours of a sovereign debt crisis, at the same time as the sovereign debt crisis of Greece is set to spread to Italy and…

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