National Catholic Reporter

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World

Europe must tackle structural causes of crisis, says bishops' commission

Europe must agree on shared financial and social policies to offset the risk of another crisis that almost saw Greece quit the eurozone, said a European bishops' commission.

A Thursday statement issued by German Cardinal Reinhard Marx of Munich, president of the Commission of the Bishops' Conferences of the European Community, expressed relief that a bailout package had prevented the "Grexit" -- the prospect of Greece abandoning the euro currency and returning to using the drachma.

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