Financial Crisis: differences between causing factors in Europe and US

Financial Crisis: differences between causing factors in Europe and US
The economic downturn in the U.S. started with subprime mortgages, a problem that was almost nonexistent in Europe. However, European financial institutions were doing something even riskier, namely financing subprime countries. The eurozone has fallen quickly, exposing the close link between Europe’s fate and events in the U.S. and elsewhere. Spiegel Online (Germany)/BusinessWeek (27 Feb.)

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