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Tuesday, February 26, 2013

News Headlines Feb. 26, 2013

This file photo shows a burnt out car after a powerful car bomb exploded in the centre of Damascus on February 21, 2013. (AFP Photo / SANA) 
  •  What European Recovery? Unemployment at record high and debt only keeps reaching more unsustainable levels. Italy’s Debt to GDP crosses 125 percent. I never understood why so many people bought into the notion that the European Union was recovering.  If recovery means that a handful of well-connected bankers are bailed out with financial smoke and mirrors instead of facing reality while placing crushing austerity on the public, then yes, maybe a recovery is what was experienced.  As of the writing of this article the EU is facing its highest unemployment rate on record.  How is this even remotely positive or perceived as a recovery?

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