Governments and the Economic Crisis
This opinion article from The Economist highlights the precarious fiscal positions of governments around the world. While these governments have largely been successful in staving off a deeper financial crisis last year by coordinating efforts to stabilize banks and the financial sector, they are now themselves a risk.
It highlights the difference in fiscal situations between Germany, UK and the US. Notably, the US has the most wiggle room fiscally to run large deficits. Ironically, the fear in Europe has driven investors to find safety in US government debt. This helps the US. However, it does not solve the US long-term fiscal problems.