Why Europe’s debt crisis is a storm warning for Wall Street

Source: Guardian

Author: Paul Harris

The fire alarm goes off as Michael Lewis descends in the lift from his hotel room. As a security guard warns nervous-looking guests that the screaming sound was not a drill, it seemed the perfect introduction for a man whose new book about Europe’s debt crisis is flying off American shelves.

“The world does seem to be falling apart,” Lewis says. Even the briefest glance at the headlines would seem to confirm that opinion. As civil unrest flares in a near-bankrupt Greece and European leaders struggle to avert “contagion”, it is hard not to worry that the Great Recession caused by the collapse of debt-laden banks might – horribly – be just a prelude to the even greater disaster of debt-laden countries toppling like dominoes.

Read More

Categories: Economics, Law

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.