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The European situation is simple: govenments must introduce austerity or go bust says Clem Chambers, CEO ADVFN Plc.
The electorate won't stand for austerity, so much of Europe will eventually default.
Whether these countries are in or out of the euro currency makes no difference.
The only chance for a different outcome is a heavy fall in the Euro.
This will have to come soon for there to be any chance of dodging the default bullets.
