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Government officials and local and foreign experts warn that without financial aid from European Union and International Monetary Fund, Greece faces a chaotic default and exit from the euro, which could contaminate more economies across the continent. Prior to Pope Francis' election, many analysts MBT Shoes Clearance had speculated that the cardinals would decide it was time to elect a pontiff who was not European. Like their new pope, more than 40 percent of the world's Catholics are from Latin America.