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Monday, October 6, 2008

Wall Street's Turmoil in Germany

This is an article from CNN about how Germany government bail out one of her Bank in crisis.

Germany reaches deal to bail out Hypo

2 years ago, i planned to open a FD (Fix Deposit) at Hypo Bank as the Bank offered high interest rate among other Germany's Banks.

2 years later, Hypo AG suffer an economic crisis. And Germany government had negotiated a 50 billion Euros bailout deal for Hypo AG.

This is the fiscal bleeding wrought by turmoil on Wall Street and now it had forced many countries to rescue its economy crisis.

But 1 thing for sure, if this is a small loophole, 50 billions Euros will be sufficient to repair the economic damage. But as far as i concern, the economy will soon be in greater crisis if no good counter-measurement is being taken.

p/s: Info from CNN and online newspaper.


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