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Europe’s Last Stand Needs Overwhelming Firepower: View

Europe is heading for what could be the last stand in its two-year-old sovereign debt crisis. By the time the Group of 20 nations holds its summit in Cannes, France, on Nov. 3-4, the European Union aims to have a rescue plan sound enough to ensure the financial troubles of struggling governments don’t bring down the banking system.

If Europe wants to avert a financial and economic disaster worse than that of 2008 and 2009, it had better apply overwhelming firepower.