European Debt Crisis Threatens The Core Economies

Dr. Michael LaitmanOpinion: (Juergen Stark, Member of the Executive Board of the European Central Bank): “ECB policymaker Juergen Stark has warned the sovereign debt crisis had spread from the eurozone’s periphery to its core economies and was affecting economies outside of Europe.

“‘These are very challenging times. The sovereign debt crisis has re-intensified and is now spreading over to other countries including so-called core countries. This is a new phenomenon,’ Mr Stark said in a speech to Ireland’s Institute of International and European Affairs in Dublin.

“‘The sovereign debt crisis is not only concentrated in Europe. Most advanced economies are facing serious problems with their public debt.'”

My Comment: That is why the world is said to be global. But besides that, it is also integral: All countries, economies, and people are completely interrelated in it. We will not be able to break this connection even in a world war. This connection can only be corrected to good: mutual guarantee!

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