From the Australian:
The world has moved into a “new and more dangerous phase” of economic uncertainty because of the European sovereign debt crisis, according to World Bank president Robert Zoellick.
In an exclusive interview with The Weekend Australian, Mr Zoellick said the European economic problems were far more intractable and serious than the US economic problems.
Amazing, isn’t it.
The profound and mystical ability of the world’s elite bankers and economists to state the bleeding obvious.
After the fact.
Barnaby Is Right 
More serious than $15 trillion public debt? A hole bigger than that must be a very big hole indeed!