Tuesday, December 6, 2011

Failure In Europe Will Lead To Recession In US

This article argues that the problems in the eurozone, if not resolved, will lead to recession in the US. The major problems would occur in the banking system. The US banks are tightly connected to the banking system in Europe. Chaos in Europe will lead to tighter credit in the US. There will be some loss in US exports but that is not enough to cause recession.

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