Why Bernanke’s worried about Europe’s debt – European Financial Crisis – Salon.com

On Tuesday, Ben Bernanke added his voice to those who are worried about Europe’s debt crisis.

But why exactly should America be so concerned? Yes, we export to Europe – but those exports aren’t going to dry up. And in any event, they’re tiny compared to the size of the U.S. economy.

If you want the real reason, follow the money. A Greek (or Irish or Spanish or Italian or Portugese) default would have roughly the same effect on our financial system as the implosion of Lehman Brothers in 2008.

Financial chaos.

via Why Bernanke’s worried about Europe’s debt – European Financial Crisis – Salon.com.

About Richard

~"addicted to computers since 1982"~ I got my first computer in 1982 and haven't looked back. I love to find ways to improve their efficiency and to help others do the same. I build and repair personal computer systems. I live in a small farming community in Western Wisconsin.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>