09-06-2011 • www.nytimes.com
Remember the collapse of Lehman
Brothers? Europeans certainly do.
As Europe struggles to contain its government debt
crisis,
the greatest fear is that one of the Continent’s major banks may fail,
setting off a financial panic like the one sparked by Lehman’s
bankruptcy in September 2008.
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“This crisis has the potential to be a lot worse than
Lehman Brothers,” said George Soros, the hedge fund investor, citing
the lack of a pan-European body to handle an extreme banking crisis.
Reported by Ernest Hancock
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