The EU is full of it. They are basically paying off debt by issuing more debt. How many times have they tried this scheme before? Every time it was presented as "problem solved" but all they did is rack up more debt. And more and more countries are heading toward the same situation.
But they are right in that the US isn't far from the same situation, too.
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http://finance.yahoo.com/news/eu-says-china-u-japan-223935795.html
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