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By Mohamed El-Erian
Published: November 24 2010 11:22 | Last updated: November 24 2010 11:22
The run up to the recent turmoil in Ireland was marked by two oddities. It is extremely rare for creditors to push a struggling debtor to ask for more loans. It is also unusual to see creditors signal so loudly their willingness to provide additional funding, before the borrower is ready to detail what it intends to do to restore its solvency.
All of this shows the extent of Europe's concerns about Ireland. And with Greece already on financial life support, the region now faces the risk of further, widening disruptions in its periphery.
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