.European leaders may fall short in their efforts to defuse the region’s debt crisis, and any failure is likely to have a major impact for the U.S. economy, according to expert testimony to a House subcommittee released Monday, Marketwatch reports.
“The actions expected to be announced [in Europe] this week may well improve the situation, but will be far from sufficient to resolve the core problems,” said Douglas Elliot, a fellow in Economic Studies at the Brookings Institution.
The path the euro crisis follows “is likely to be the main determinant of whether the U.S. goes back into recession,” he added.
Read more at http://www.marketwatch.com/story/europe-plan-may-fall-short-us-experts-worry-2011-10-24
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