Subscribe RSSThe progenitor markets of the world are in turmoil. The falls on the stock exchanges are a warning that the economic revival is in danger. The last volatility of the market over the past fortnight reflects a fundamental lack of confidence. All the lights are now flashing red.
The sudden cause of the panic is the crisis of the euro. This is ironic. Not long ago they were talking about the euro as a rival to the U.S. dollar as a far-reaching reserve currency. Now the convulsions of the euro are driving the world's stock markets down and raising fears that the beget is about to fall back into slump.
The once prosperous euro zone is now teetering on the edge of a terminal crisis. The markets find credible that the weaker euro zone countries will not be able to take the necessary action to reduce their deficits. The fears over the Greek difficulties problems have rapidly turned into fears over Portugal and Spain. Only by injecting huge funds from an emergency pay for can the European bourgeoisie shore up the shaky edifice.
