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Merkel Greek Strategy May Backfire

Mention of possible euro exit exacerbates European debt crisis.

By Simon Kennedy, Bloomberg | Updated on November 11, 2011

Germany and France’s drive to force Greece to honor its euro commitments risks backfiring on Chancellor Angela Merkel and President Nicolas Sarkozy.

A week after the currency’s guardians declared for the first time that it is possible for the 17-nation bloc to shrink, U.S. stocks tumbled on concern German politicians are already creating exit chutes for the weakest members.

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