Though it is the same crisis, Europe and the U.S. have other ideas on how to solve this problem. Europe believes that Henry "Hank" Paulson, U.S. Treasury Secretary, never should let "Lehman Brothers", an investment bank, fail because this caused anxiety in international banking. Europe believes in a different approach: state guarantees are provided for different loans and the European states will take measures before a bank goes bankrupt. Time will tell whether the plan of the U.S. or the plan of Europe will be more successful.
Ilke Eeckhout
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Though it is the same crisis, Europe and the U.S. have other [different] ideas on how to solve this problem. Europe believes that Henry "Hank" Paulson, U.S. Treasury Secretary, never should let [should have let] "Lehman Brothers", an investment bank, fail because this caused anxiety in international banking. Europe believes in a different approach: state guarantees are provided for different loans and the European states [governments] will take measures before a bank goes bankrupt. Time will tell whether the plan of the U.S. or the plan of Europe [European plan] will be more successful.
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