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Global financial system needs a major shake-up

By MOHAMED H. ZAKARIA Published in Arab News: Aug 14, 2011 23:37 The sinking US dollar and the euro crisis are threatening the world financial system. The US Federal Reserve’s recent decision to keep dollar interest rates near to zero at least for two more years was an unprecedented step, according to some economists. It is also being suggested that the US might be starting to look eerily like Japan — entering into long-term recession. The Japanese ...
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