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Papandreou's Shrewd Move And Some Advice For The Bank Of Japan
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Papandreou's Shrewd Move And Some Advice For The Bank Of Japan

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Papandreou's Shrewd Move And Some Advice For The Bank Of Japan

By Marc Chandler:
Even though a great sense of stability appears to return to the markets after the blood-letting of Monday and Tuesday, there have been fresh developments on the ground to suggest these market moves will be sustained. The purchasing managers surveys in Europe were generally poor, with the region as a whole coming in at 47.1, down from 47.3 in the flash report and 48.5 in September. If Europe is not in a recession, it is headed there quickly.

The Greek situation remains unsettled by far.

First is the vote of confidence slated for Friday. It is a close call, but it does appear that the Socialist government will survive. Although there have been some defects (at least one) and a call by one to form a national unity government


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