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Nomura: Two Types of Break up Scenario Possible for Euro Zone

3:30 AM ET Fri, 6 July 2012

"Policy makers need to show preparedness and at this stage they can't even show that they are prepared for a Spanish bank bailout, let alone the possibility of one of the countries leaving the euro zone. A lot of the stages of preparing for an exit are the same as solving the debt crisis," Nick Firoozye, head of interest rates strategy at EMEA, Nomura, told CNBC.