Is this beginning to look like October 2008?

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As the Guardian notes:

The president of the European Union has warned that the EU could collapse unless the debt crisis that is gripping the region is resolved.

Herman Van Rompuy, president of the European Council, raised the stakes ahead of this evening's showdown talks between finance ministers in Brussels. With Ireland and Portugal both on the brink of seeking a bailout, Van Rompuy warned that there is a serious risk of contagion spreading across the continent.

Contagion?

Banking?

Crisis?

Bail out?

Haven’t we been here before?

How long is it before we:

a) Realise the neoliberal economic model is dead?

b) Start EU wide stimulus policies?

c) Regulate finance, once and for all?

Can we afford to put this off again?