Until now, many Americans have largely tuned out Europe’s debt crisis. Its causes are complicated, it’s happening somewhere else, and we’ve got enough of our own economic problems to worry about, thank you very much.
But Americans may not be able to disregard the crisis much longer. Europe’s leaders met in Washington over the weekend, trying to devise a plan to finally address the growing financial emergency. And U.S. government officials areusing increasingly urgent language in their appeals to their European counterparts to come up with a viable plan before the crisis spirals out of control, plunging the global economy back into recession.
So it’s time to start getting familiar with Europe’s debt crisis. Here’s the crucial background you need to know:
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