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View Full Version : The Euro Is In Crisis



Conley
09-22-2011, 03:39 PM
Warnings mount on euro crisis, BRICS mull more aid

WASHINGTON/FRANKFURT (Reuters) – Seven world leaders on Thursday demanded Europe act more decisively to quell its debt crisis and a European Central Bank study warned that the entire euro currency project was now in peril.

As the world's top finance chiefs gathered for talks in Washington, an open letter by the leaders of Australia, Canada, Indonesia, Britain, Mexico, South Africa and South Korea stressed the risk of the euro zone crisis spreading worldwide.

"Euro zone governments and institutions must act swiftly to resolve the euro crisis and all European economies must confront the debt overhang to prevent contagion to the wider global economy," the leaders wrote in the letter to France, currently chair of the Group of 20 leading economies.

http://old.news.yahoo.com/s/nm/20110922/bs_nm/us_g20

It seems increasingly likely that entire world is going to be headed for an even darker economic time. I'm not sure Obama could have overcome that but it seems clear his policies have hastened the decline. Times are going to be bad for a while it seems. Sometimes it seems like this is just how it's going to be from now on.