Europe hopes to avoid a repeat of the 1930s

Filed under: AM Roundup |

European banking officials are worried that the current debt crisis will lead to the same conditions that Germany faced in 1930 – the economic conditions that led to the rise of Adolph Hitler’s Third Reich.

Bloomberg is reporting that European central bankers are keeping the lessons learned from the past in the forefront of their minds as they try to reach a solution to deepening debt issues in Greece, Spain, Italy and Portugal.

Extremists are gaining ground in Greece as the nation’s population expresses anger about austerity measures there that have cost jobs and pensions.

Read more at Bloomberg.