Some European countries now have problems with their debt burdens that appear unmanageable and that problem is spreading to major European countries like Italy.
Europe's banks have too little capital and too much bad debt on their books; they are poised for a Lehman-like event. And here's the worst part, in light of these problems, key governments are doing - almost nothing.
While I am certainly not an economic wizard to know what other governments "should" be doing, it does seem that there is something the key governments could do. Then again, our own "Stimulus" plan didn't really help much either. Does our government have an obligation to reach out and help, what about other EU countries? It seems that our different economies affect each other now more than ever.
I agree that our economy affects other economies more than the next person may think. I think this is a major component in the argument of the United States staying a world power. I do believe it is the governments responsibility to help their country's economies, I don't think sitting back an turning a blind eye to the situation is not the answer at all, but than again I couldn't give you an answer to solve any failing economy.
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