Analysis: Be afraid: Some in U.S. see shades of 2008 in euro crisis
| Reuters
While growth has been slowing in China and the United States and companies warn about the effect on earnings, there is a mounting sense among the financial community that politicians and markets are operating on two completely different timelines.
They see a fractured Europe fiddling in the near term, attempting to seal one fissure as another larger one appears while they talk about a five-to-10-year timeframe for real solutions, such as a more fiscally integrated euro zone. They see investors who want solutions in the next few weeks and months or else nations like Spain and Italy could find they cannot borrow at all on capital markets, starting an economic firestorm that would make today's problems seem mild.
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