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While the European Union's $1 trillion stabilization package has cooled sovereign debt default fears for the short term, the fate of the euro is still uncertain.
The moves taken by Greece to cut down its debt have proven to be politically unpopular. If the country is not successful in containing its crisis, the world could be looking at a double-dip recession in both Europe and the U.S.
Allen does not think Europe's plan for Greece is working. Would alternative action such as bankruptcy, be superior?
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