Today there was another reminder of just how fragile the world economy remains. The budget deficits of Greece, Portugal and Spain -- nations that use the Euro -- exceed 8 percent of GDP and could impact the economic fortunes of countries far from Southern Europe. These governments risk defaulting on their debts by failing to control spending.
All Posts Tagged With: "euro"
Even though the euro zone is officially out of the recession, concerns over debt are growing. The tip of the iceberg is Greece, whose credit rating was recently downgraded after its deficit ballooned to four times the E.U. limit. Daljit Dhaliwal interviews Rana Foroohar about Europe's financial woes.