Der Spiegel takes a look at the Global Debt Crisis and Financial Market Turmoil by reflecting on whether the world is going bankrupt and the risks of the double-dip recession in the US.
Europe and the US are hopelessly over-indebted. The crisis that started in the US real estate sector in 2007 has devastated state finances on both sides of the Atlantic and is threatening to wreck the euro and trigger a second global downturn. The world lacks the political leadership needed to end the turmoil.
Read the full article here.
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