Why is Wall Street so afraid of Europe? - European Financial Crisis

Because what happens in Germany and Greece is a bigger threat to the U.S. economy than anything Congress could do.

• "I think we will do Greece the biggest favor by not speculating much, but instead encouraging Greece to implement the commitments it has made," Ms. Merkel told RBB Inforadio, a public broadcaster in the Berlin region. "What we don't need is unrest in the financial markets -- the uncertainties are already big enough," she said.
• Merkel's promise calmed the waters -- for the moment. French bank stocks -- and the U.S. stock market -- suddenly rebounded.

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