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10/31/11

US and Europe play the blame game

In the European debt crisis, blame is being passed back and forth across the Atlantic between the US and European nations themselves. But this week's crisis summit in Brussels relieved some of the tension.

Benn Steil is a colleague of Mallaby at the Council on Foreign Relations, and he sees some correlation between the problems in the US and those in Europe.

"The problems in the US housing market were a decisive trigger for the current crisis in Europe," he said. "It revealed the significant underlying problems with the European financial market, which is very dependent on the banks."

For more: US and Europe play the blame game | World | Deutsche Welle | 28.10.2011

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