05/08/2011

Just five days ago, international investors were considering the possibility that the US government might default on its debt. That fear has now gone away, but it has been replaced by a fear that the world could be heading towards another credit crunch. Today instability on the stock markets continues, with sharp falls in the past 24 hours amid a crisis of confidence due to the eurozone debt crisis and concerns about weak recovery not only in the US but also in Europe.