Nicolas Sarkozy threatened to pull out of euro over Greece row

[nebris]

From guardian.co.ukIan Traynor in Brussels Giles Tremlett in Madrid

Comments

Imagine the worst outcome of this one meeting:

[squidb0i]

No euro bailout, euro fails. Europe fragments again.
Could the resulting bad blood lead to military or other punitive responses?
Greece, Portugal, Spain, and Italy fail.
US economy crashes again, extra hard no matter what, since Europe is one of our biggest trading partners: Screw double-dip "W shaped recovery", the last year's green shoots would have been a little plateau on the precipice as we fell dooooooown down down. =P

Re: Imagine the worst outcome of this one meeting:

[cieldumort]

Zandi notes (see previous post) that Europe actually only accounts for 20% of our exports - and that our exports in sum account for only about 7.5% of US GDP... and thus, "no US double dip" despite an "all-but-certain" Europe double dip.

Frankly, the same happy crap was said of subprime: "it only accounts for a tiny portion of US home loans"

and we all know how well that played out

[squidb0i]

The critical failing there: refusal to accept that things are interconnected. =/

[cieldumort]

We're all Europeans now