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The only certainty in 2012 is the uncertainty stemming from the financial challenges in the European Union, which are very likely to impact the U.S. banking system.

Expect 2012 to be a gray swan year, a year in which we know a certain risk is plausible, but we don’t know how it will impact the financial and banking industries. Unlike a black swan event, which is defined as a highly improbable and unknown risk, the gray swan of the banking industry is the financial uncertainty of the European Union, which is made up of 27 member countries, and most particularly the survival of the euro currency, which is used by 17 of those countries.

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Tonya Knudesn

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