Kai Ryssdal talks with Leigh Gallagher from Fortune magazine and John Carney from CNBC about the debt problems in Europe and how it might affect the U.S.
On whether a solution to the crisis is coming soon:
John Carney: I think there’s no fix. I think it’s actually not going to end anytime soon. What we’re going to have are resolutions of temporary things. Either good or bad. Greece will probably go through an extreme moment; whether that counts as a default or not, I don’t know. But then we will have extreme moments in Italy and Portugal and Spain; we’re going to have a cascade of these things happening over the next several months, well into 2012.
On what American taxpayers are feeling about Europe’s problems:
Leigh Gallagher: We’re not afraid. Look at what’s happening in the market this week: we’ve been up every day. Europe feels very far away…There hasn’t even been talk of a double-dip anymore here, which was sort of the big panic not so long ago.
For more analysis, click on “Listen to this story” at the top of the page.
As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.
Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.
Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.