With major European banks now failing, calls have increased for an entire restructuring of the financial system under a centralized EU supervisory body.
With Belgian-Dutch group Fortis becoming the first major European bank to buckle, British mortgage lender Bradford & Bingley also being nationalized, as well as several other banks failing in Iceland, Denmark and Germany, economists have warned that more are teetering on the brink and only a radical centralization of power in Europe can stave off financial ruin.
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The critical part is ' radical centralization of power in Europe'
All totally engineered !
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