Early October 2011, Dexia became the first European bank to fall victim to the Eurozone sovereign debt crisis and it was subsequently bailout by the Belgian and France governments. That how the Global Financial crisis of 2008 was started with bailout of Bear Stearns by J.P. Morgan Chase and backed by US government. That triggered the domino effect and reached the peak of crisis on Oct 2008. Will history repeat itself, but this time at Europe?
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