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S&P said it was not working on the assumption of a euro zone break up, although it blamed its leaders for focusing too much on cutting debts and not sufficiently on competitiveness.
"We think that the diagnosis of policymakers regarding the crisis is only partially recognising the origin of the crisis," said Kraemer,air max shoes for sale mentioning the focus on budget austerity.
"The proper diagnosis would have to give more weight to the rising imbalances in the euro zone in terms of the external funding positions, current account positions, much of it is based in diverging trends of competitiveness," he said.