BY ALEJANDRA LABANCA
Lord Mark Malloch Brown, former British Minister of State and Chairman for Global Affairs at
The former British official, who worked as a political adviser in the region during the 1980s, noted however that
“This crisis is the second shoe falling. This is a long term shift of wealth away from the middle classes of the north - who had been leveraged [into their high standard of living] and now are deleveraging - that will continue in the form if a long term weakness in those markets,” he said. “And this time
Malloch-Brown said that the recent deal to contain the Greek debt crisis was temporary and that in the coming months there would be more signs of crisis in the euro zone. “There are also challenging months ahead for the
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