By Dr. Laura Palmer Noone, CEO, University of the Potomac
Unless you refuse to watch television, listen to the radio or surf the Internet, you have probably heard that the European Union has been in a state of upheaval in recent months. Many countries are struggling and looking to other countries to help bail them out of financial difficulties. Europe is facing the type of banking collapse that the US narrowly escaped only a couple years ago.
I am always puzzled as to why so many Americans look upon this as an issue that is not impacting the US economy. Even if we went to bury our heads in the sand, the world now has a global economy. The saying used to go “If the US sneezes, Europe gets a cold.” Well parts of Europe are sneezing pretty hard on us right now and there is no giant bottle of hand-sanitizer in sight.
There are those that would say we need to ignore the crises in these countries, but we do so at our own peril. Much of the US debt is held by banks in these countries and still other countries hold much of our natural resources. I don’t have the answer but this much I know – I am paying attention!
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