Bailout Beat Goes On: Europe Faces Banking Crisis of Its Own

Der Spiegel by Mark Scott | Oct. 7, 2008 (News Analysis)

Perhaps it's time, he and other analysts say, for a more EU-wide approach to solving what is quickly becoming a pan-European problem. But with no central financial regulator in Europe, and a tendency by local politicians to focus on domestic financial and economic issues, any such solution is unlikely soon. The resulting irony could be that even though Old World institutions engaged in less of the risky lending that pulled down so many American ... Full Story »

Posted by Peter Barnett

More Info

3.5

by Kaizar Campwala - Oct. 7, 2008

Gives a decent overview of the European banking crisis- not an entirely compelling read, but good background information.

See Full Review » (12 answers)

3.7

by Michael Bugeja - Oct. 7, 2008

Der Spiegel is one of the best sources of news in Europe, and like most U.S. reports, this one surveys the experts in a round-up story that gets across these points: 1. There is a banking crisis in Europe. 2. The U.S. bailout can do little good because the issues are different. 3. The European Union has no real federal authority like the United States. 4. Thus, the crisis might be worse. Missing from the report, again like so many in the United States, is the impact on the everyday European and the "big picture," such as the possible devaluation of the Euro and the effect on tourism or other industries, especially when energy costs are anticipated to rise later this winter.

We're headed into a global recession with threat of a worldwide depression. Journalists need to be researching the effects of both on commerce, politics and trade.

That has left governments to tackle the crisis on a country-by-country basis, with sometimes divergent solutions that can even make matters worse for neighboring countries. ... More »

See Full Review » (22 answers)

4.5

by Peter Barnett - Oct. 7, 2008

A comprehensive analysis of the 'situation' in Europe.

Peter posted this story.

See Full Review » (7 answers)

3.9

Good

from 3 reviews (30% confidence)

Quality

3.8

Facts

4.0

Fairness

4.0

Information

4.3

Insight

3.0

Sourcing

2.5

Style

3.0

Accuracy

4.0

Balance

4.0

Context

3.5

Depth

3.0

Enterprise

2.5

Expertise

4.0

Originality

3.0

Relevance

4.0

Transparency

3.0

Responsibility

4.0

Popularity

4.2

Recommendation

4.0

Credibility

4.7

# Reviews

1.5

# Views

5.0

# Likes

1.0

# Emails

1.0

How our ratings work »

World | European Union

European Leaders Vow to Fight Financial Crisis

New York Times | Oct. 5, 2008

()

Posted by Michael Bugeja

See Reviews »

Add a related link