European Union relief efforts

The World

Executives in businesses across Europe say this has the potential to be an incredibly dangerous time. Today, bankers are watching European nations tear at the fabric that’s supposed to bind their economies together as a Saturday promise to work together across governmental lines fell apart as Germany struck out a loan to guarantee bank deposits. Other nations seeking to reassure their own citizens followed in line. If it seems like it’s every nation for itself, that shouldn’t be a surprise says this analyst because there’s no central system or governing body over financial systems in Europe. Britain is standing apart from the pack because it’s not offering guarantees, and this analyst thinks that’s not enough. It seems the worry is what’s overwhelming the markets no matter what action is taken by governments. European leaders are saying they’ll meet again to try to hammer out agreements.

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