In the dark days of the financial crisis, as credit markets froze around the world amidst uncertainty and confusion, one thing at least was clear. The global financial sector had become interconnected as never before.
In the 19th century, it was said that: "When France sneezes, the rest of Europe catches a cold." In the early 21st century, when Citibank, Goldman Sachs or JPMorgan Chase, cough and splutter, the whole world reaches for the aspirin bottle.
The impact of the failure...
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Already a member? Login hereAndrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.
Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.