The rejection of the $700 billion bailout has crossed oceans and rippled through world markets.
The blog “Eurointelligence” recalls the time when Europeans could not fathom how a U.S.-centric financial crisis could affect European banks, which have suffered in tandem with the U.S.
Henning Meyer of “Social Europe Blog” offers perspective from across the pond and discusses the need for a remodeled regulatory framework worldwide.
At “Macro Man” blog, an anonymous author extends blame of the global crisis to irresponsible lending practices in England as Germany, citing that the U.S. is not alone to blame.
The Latin America blog “Foreign Policy Association” describes what the U.S. credit crisis means for Argentina’s economy.
The Financial Times reports that the economic crisis has led Americans to call for greater global ties.
Click on the countries in blue to see how they are affected by the global credit crisis.
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Photo courtesy of Flickr user saibotregeel under a Creative Commons license.
01/17/2009 :: 10:15:58 AM
David Dzidzikashvili Says:
If we keep bailing out failed businesses, we will have more than $1 trillion deficit, that’s shocking since such a massive (unregulated) spending can ruin America and the future of next generations, if we keep blindly giving out blank checks to companies that failed due to obsessive greed and extremely poor performance of some CEOs. We will go into historic record debt. The future generation will have to pay at some point, but at the same time we can’t just watch unemployment increase and middle-class Americans lose jobs in record numbers. There has to be another solution, another alternative…