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IMF Relief for Hungary Only First Possible Rescue for European Victims of Crisis

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Hungary has received a 20 billion Euro ($25.5 billion) rescue package by the International Monetary Fund, the EU, and the World Bank to help restructure their economy and fight off the possible collapse of the forint.

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Will Crisis Boost the Euro and Eurozone as Rival to Dollar and US Financial System?

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Will the global financial crisis function as a turning point in the currency rivalry between the U.S. dollar and the euro? Could it result in the “eurozone” rivaling or even replacing the U.S. financial system as the mainstay of global capitalist markets?

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