Global Economic Chaos

The European Monetary Situation

EVERYBODY PAY ATTENTION TO IRAN AND NORTH KOREA; nothing to see here, move along. One false move in Europe could set off global chain reaction If the trouble starts -- and it remains an "if" -- the trigger may well be obscure to the concerns of most Americans: a missed budget projection by the Spanish government, the failure of Greece to hit a deficit-reduction target, a drop in Ireland's economic output. But the knife-edge psychology currently governing global markets has put the future of the U.S. economic recovery in the hands of politicians in an assortment of European capitals. If…
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