By the Central Banks and the U.S. Fed of the world selling dollars at a better loan rate to banks the central banks of the European Union, Great Britain, Switzerland, Canada and Japan and in its own way China all avoided another Lehman brothers or worse scenario. Since the Lehman brothers collapse cost at least 9 million jobs just in the U.S. as well as millions of job losses throughout the globe, all nations were wary of another episode like this in europe which could have been just as bad or potentially even worse for the world.
I'm very glad that even though politicians have been acting mostly like fools here in the U.S. and world wide, at least the central banks saved us from something potentially worse than the Great Depression worldwide. (At least for now). Because the primary problems of Sovereign debt have not been solved yet.
The solution likely will either look something like "The United States of Europe" or it will result in the collapse of the European Union and the Euro and all nations will have to go back on their own individual national currencies once again.
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