Economy: Gyrations and Dreams

Is the credit crunch coming to Europe? Since the United States mortgage crisis broke last August, financial markets have been torn between hopes of de-coupling, the theory that Europe can escape the US mess largely unscathed, and fears of re-coupling, the notion that Europe will have to follow America all the way down, even if it may take Europe a little longer to realise its fate.

The World Today
3 minute READ

Subscribe to read all issues

Articles from the current issue are free to read by all, the archive is exclusive to magazine subscribers and our members. Subscribe or become a member to view articles from the archive.