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May 16, 2012

Eurozone Crisis a Repeat of the 1930s

Thomas Walkom, Toronto Star

AP Photo

The European crisis seems unprecedented but it is not. This time it centres on the euro, a currency used by 17 European nations. Last time, it centred on gold, an international currency used by even more countries. Oh, and did I mention? The last time this kind of crisis occurred was 1931 — two years into the economic slump we now know as the Great Depression.

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TAGGED: Eurozone, global economy

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