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You're reading: This is 2011, not 2008; nation can better cope with next downturn

Europe is experiencing major economic turbulence. The debts of Greece and other nations are threatening the fate of European banks, which had bought billions of highly profitable securities that seemed safe because they were denominated in euros. Many experts are once again talking about 2008.

Then, the crisis also started far away from our borders, but hit us harder than many others. So there is no surprise that many in Ukraine are worried that we will be affected by the new European problems.

However, this is 2011, not 2008. The current situation is complicated but there is no reason to panic.

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