02-05-2010, 06:56 AM
[url="http://www.ft.com/cms/s/0/a124518a-11cb-11df-b6e3-00144feab49a.html"]Europe fears rock global markets[/url]
Historical reference -
World War II trigger - Austrian banks started falling because of debtors problem. Europe went into financial slide down.
US was in recession.
Current situation -
Austrian banks had over loaned funds to East block Europeans countries and now they are defaulting.
Greece, Ireland may default.
US is in recession.
Where it can lead world -
Beginning of end of EURO and European union.
China and US may get tangle in trade war /cold war.
Historical reference -
World War II trigger - Austrian banks started falling because of debtors problem. Europe went into financial slide down.
US was in recession.
Current situation -
Austrian banks had over loaned funds to East block Europeans countries and now they are defaulting.
Greece, Ireland may default.
US is in recession.
Where it can lead world -
Beginning of end of EURO and European union.
China and US may get tangle in trade war /cold war.