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Rescuing Euro Will Ruin Europe - Expert

Tuesday, 10 Jul 2012 | 3:30 AM ET

Wilhel Hankel, professor of economics and development at the Goethe University in Frankfurt told CNBC that his main concern about the European Stability Mechanism is that it will see Germany hand over sovereignty to Brussels. "With this new institution we will get a complete new and unwanted Europe," he said.