Debt Crises and Market Turmoil Is The World Going Bankrupt?

Europe and the US are hopelessly over-indebted. The crisis that started in the US real estate sector in 2007 has devastated state finances on both sides of the Atlantic and is threatening to wreck the euro and trigger a second global downturn. The world lacks the political leadership needed to end the turmoil.
Von SPIEGEL Staff
A trader at the New York Stock Exchange last week.

A trader at the New York Stock Exchange last week.

Foto: STAN HONDA/ AFP