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Franklin Templeton warns the Eurozone may face a "sovereign debt crisis 2.0" more severe than the Greek crisis, as France's debt is more than ten times that of Greece.
Sonal Desai, CIO of Fixed Income at Franklin Templeton, stated that France's debt is more than ten times larger than Greece's was, making simple bailout packages not an option. She bluntly said that no one is truly prepared for Eurozone Debt Crisis 2.0, which, if it materializes, could be far more destructive than previous crises. Meanwhile, the spread between French and German 10-year government bond yields widened to 154 basis points, the highest level since early October, indicating that market concerns about France's debt pressure are specifically reflected in rising borrowing costs.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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