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Topic - Thomas Kleine-Brockhoff
Germany has leveraged its economic strength to take the leading role in addressing Europe's debt crisis, but ironically it owes much of that success recently to the appeal of German products in emerging countries such as China and Russia — far outside its traditional markets in Europe.
Given the continuing disconnect between markets and politicians," he said, European leaders will have to "scramble" again within a few weeks or months "for what to do next to prevent a market meltdown."
In a pattern repeated often in the past two years, markets initially applauded the summit accord, but then "realized that the latest comprehensive plan wasn't all that comprehensive; that there are not enough short-term crisis resolution measures ... and that long-term fixes are impressive, but incomplete," Mr. Kleine-Brockhoff said.