This article encapsulates all of our economic crisis's at once.
The week that Europe stopped pretending
The euro has essentially broken down as a viable economic and political undertaking. The latest rush of events reeks of impending denouement.
On a single day, the European Commission said monetary union was in danger of "disintegration" and the European Central Bank said it was "unsustainable" as constructed. Their plaintive cries may have fallen on deaf ears in Berlin, but they were heard all too clearly by investors across the world. Joschka Fischer, Germany’s former vice-Chancellor, said EU leaders have two weeks left to save the project.
"Let’s not delude ourselves: If the euro falls apart, so will the European Union, triggering a global economic crisis on a scale that most people alive today have never experienced," he said.