Increased political and economic uncertainty likely for second half of 2012

Eurozone crisis dominates global outlook

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If only it were just a question of getting to the next level in Angry Birds. But it is not. The world, led by a dazed Europe, seems to be heading for serious turmoil. There is no doubting the severity and cata­strophic consequences of a eurozone meltdown. The fragmentation of the eurozone is becoming a near-certainty, although EU politicians deny it is an option. Germany seems to be going schizophrenic, as it appears to encourage a Greek exit but privately tries to avoid it.

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