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GEOG 120 Maxim 2

GEOG 120 Maxim 2 - Zak Smith EUROPEAN REALM Quote and...

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Zak Smith 9/13/11 EUROPEAN REALM Quote and source: “I do think the United States needs to try to prepare for what might happen if the European crisis is not resolved soon.”—Martin N. Baily, a senior fellow at the Brookings Institution and a former chief of the Council of Economic Advisors during the Clinton Administration. “Europe Is Urged to Take Bolder Action on Debt,” NY Times online, September 9, 2011. Synopsis: The Group of 7, a combination of the financial ministers from the United States, Canada, United Kingdom, Japan, France, Italy, and Germany, met on Friday the 9 th , to discuss the current debt crisis and market fall-out going on in Europe. Rapid stock sell-offs continue to contribute to the unstable European markets without any sort of solution from the G-7. The G-7 is working on a way to reassure the public that the markets will turn around but they haven’t spoke of a specific resolution to the debt crisis. The European Central Bank is available to assist
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