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The Boston Globe


Former US Treasury secretaries sound alarm

Paulson, Rubin fear EU crisis could derail US

Former US Treasury secretaries Henry M. Paulson Jr. and Robert E. ­Rubin, who each fended off financial calamities over the past two decades, warned Tuesday that urgent political action is needed on both sides of the Atlantic to prevent a new global meltdown.

“We have a cliff coming,” said Rubin, who served as Treasury secretary under President Bill Clinton in the 1990s. “The idea is to avoid the cliff.”

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