16 September 2008 - 19H24
Is the financial crisis unstoppable? (Part 2)
As Wall Street's financial fiascos threaten to lead Europe down the same disastrous road, we discuss the potential knock-on effects of chaos in the US economy and what financial authorities should be doing to contain the damage. (Part 2 of 2)
Could the financial fiascos on Wall Street lead Europe down the same disastrous road?
It's long been said that when it comes to the global economy, if the United States catches a cold, the rest of the world gets the flu.
But some fear that flu could be more like pneumonia as some of Europe's financial institutions are tied directly to failing banks in the US.
And now, with a major insurer like AIG begging for emergency funding, some one trillion dollars in global assets are left hanging in the balance.
Some analysts say this could trigger a downward spiral more destructive than any major bankruptcy we've seen thus far.
So, tonight we'll be looking at the potential global effect of the US economy's chaos and what financial authorities should be doing now on damage control.
Andrea Sanke's guests are:
Raphaël Kahane, France 24's Business Editor.
Jan Randolph, Economist from Global Insight.
René-Pierre Azria, President and CEO of Tegris advisors.
Bernhard Juneman, Deputy Editor in Chief of Börse Online Magazine.
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