Financial Contagion

Josef Joffe, Professor at Stanford, wrongfully insinuates in the article "Gloat at Your Peril" that the E.U. indulges in schadenfreude about the U.S. financial crisis [Oct. 20]. We all know what the global economy is about. Would anyone be stupid enough to ignore the fact that the entire human body suffers if just one organ gets sick?

Joffe claims that Europe has "no will, no purpose, no power," that it does "less than required" and does it "slowly." I find this point of view pretty mistaken since on...

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