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Sentinel Watch

The prophet vision and the European debt crisis

From the September 3, 2012 issue of the Christian Science Sentinel


The European Union’s decision to pull Italy and Spain back from the brink of financial disaster, Germany’s relaxing of an austerity-only approach to the eurozone’s problems, and the European Central Bank’s commitment to the euro are glimmers of light breaking through the dark cloud of Europe’s debt crisis, although much uncertainty remains.   The Spanish government has also launched new austerity measures that include curtailing civil servants’ bonuses, reducing unemployment benefits, and cutting back on coal subsidies.