Oct. 31 (Bloomberg) -- The European sovereign debt crisis
stands as the latest in a long line of similar crises. Argentina
in 2001. Russia in 1998. Mexico in 1994. The list goes back into
history. Debt crises are about as natural as earthquakes, but
this time there is something different -- and possibly more
dangerous.
The European nations are linked in a network of debts, as
Bill Marsh recently illustrated in the New York Times with a
beautiful piece of graphic art. Greece and Italy are prominent;
Ireland, Portugal and Spain lurk ominously nearby. France and
Germany seem exposed, too, as does the U.S.
