June 11th, 2012
07:58 PM ET

Could the U.S. be on the hook for Europe's bailouts?

Just how much will it cost to fix Europe?

That is the question on investors' minds all across the globe. The markets fell today on fears that the proposed bailout of Spain's banks won't do enough in the long run to keep the Eurozone from crumbling apart.

Why? Partly because Spain is now the fourth European country to ask for a bailout – Greece, Italy, and Portugal have as well. Partly because no one knows how much it will actually cost to fix the European economy – some estimates run as high as several trillion dollars, dwarfing their bailout fund.

But also because the overall economic picture is just too uncertain and unpredictable right now. And to top it all off – the American taxpayer could end up on the hook for all this.

Filed under: Economy • Euro • International
soundoff (2 Responses)
  1. matt a

    As Rick Santelli might say, "Europe has their own printing press." True, and all this printing doesn't change the fact that consumption around the world is on a severe slide.

    The Greeks may not have viewed the abyss, but most of the world is getting a view of what the 1930s were like.

    June 11, 2012 at 8:18 pm | Reply
  2. kevinkatovic

    I dont understand any of this EURO nonsense already... Why doesn't greece just give it up and sever the tie with the euro and give it up already. Its over greece get over yourself. Its not all about you greece. Your hurting spain right now greece cant you see that? Sheesh Greece just doesn't get it. If they went back to the lyra-tard it would all be good and europe could recover and rebuild relationships with the rest of greece. Dont get me wrong I am not a country beater but they really are the problem. Greece's Depressing GDP and now giving Spain something? Its aweful its going to take all the participants time to recover. It would take a mind reader and expert remote viewer to get this right. I mean its obvious to me that Greece needs a break right now it needs to collect its thoughts as a country and let go the pressures of performance anxiety with its really a spain in the glass. I have no idea what I am doing causing problems I assume.

    June 11, 2012 at 8:12 pm | Reply

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