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Brown leads the battle cry for European economies

We seem to have arrived back at the same stage we reached just 2 short weeks ago with a familiar battle cry from the likes of Gordon Brown as concerns that the credit crunch has spread to Eastern Europe start to show. While it will be difficult enough for the likes of the UK and US to bounce back from this slowdown in double quick time, many of Eastern European countries are very under developed and their economies are not able to stand on their own two feet.

In recent times we have seen the EU bail out many of these countries but the pot is now empty as it has all been used up to fund the rescue package, so either these new economies are left to fend for themselves of European wide taxes are increased - something which is just not possible at the moment.

The credit crunch is like a caged octopus which has managed to wriggle free and its tentacles are touching the outer reaches in search of a home.

We seem to be arriving back at the same position time and time again with less and less money to throw at the situation. But could it have been handled differently?

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