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Europe is an Area to Avoid - Expert

Tuesday, 10 Jul 2012 | 4:00 AM ET

Following the news that Brussels will make 30 billion available to Spanish banks by the end of July, Nick Carn, founder of Carn Macro Advisors, told CNBC: "It's very unrewarding to stand around on the battle field and try and anticipate what the end game is. (..) Europe is an area to avoid.(..) If i were to look at any option in Europe I would look at any of the banks' subordinated debt."