The economies of Europe seem to be disjointedly connected through the Euro in a fashion resembling a drunken octopus in a shallow pool. While this may be slightly amusing to non-Euros, the effect has been one of the financial flu around the world. Will there be a global recession or will the crisis fizzle into much ado about nothing?
Going to blogs by economists leaves one with the feeling one gets from a suspension-type roller coaster and just as clear-headed. Econbrowser provides a great example of that with these two posts:
June 16, 2012
Options for Europe
June 13, 2012Why not admit it? No one really has an answer that will satisfy a majority of those directly involved nor will the world come close to figuring out why the French are so keen on taxing millionaires when they've driven most of them out. Let's face it, countries tied to the Euro are engaged in one giant cluster-[vulgarity] and have lost their collective economic minds. They are pointing out the blame with one hand while reaching for an handout with the other.
Contractionary Fiscal Contraction, Quantified: European Edition [you have to love the title]
Of course, the U.S. isn't much better... just too big to fail... maybe.