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In Europe, an ‘Argentinean Re-Run’: Fund Manager

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Catherine Boyle
July 6, 2011

The situation facing European countries like Greece and Portugal is directly comparable to the economic crisis which hit Latin America in the late 1990s, Andy Brough, co-head of Schroders’ Pan European Small and Mid Cap team, told CNBC Wednesday.

“I get the feeling we’re having an Argentinean re-run,” Brough said. “In Europe, they’ve tried everything to sustain the system but it’s unsustainable.”

Argentina, together with the region’s largest country Brazil and with Uruguay, suffered a sustained economic crisis last decade after building up a huge debt pile.

Argentina in particular continued to borrow heavily from the International Monetary Fund (IMF) without repaying its debts.

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This article was posted: Wednesday, July 6, 2011 at 3:39 am

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