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Growth Funded by Debt Is Nonsensical: Pro

Thursday, 21 Jun 2012 | 2:00 AM ET

"The best case view that we have for European growth over the next three years is flat in aggregate. Growth measures funded with more debt doesn't really make a lot of sense, the key problem is that the European project is not viable as it stands," Bob Janjuah, global head of tactical asset allocation at Nomura, told CNBC.