while($next = (extract_bracketed($text, '{}', '[^{}]*' ))[0]) 
{
    $holder = $next;
    $next =~ s/\{([\w|-]*)(.*)\}/<$1>$2<\/$1>/osi;
    $text =~ s/$holder/$next/sgi;    
    print "Sync check \#$counter\n";   
    print "$next\n";
    $counter++;
}