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Monday, October 13, 2008

Turnabout 

Three weeks ago, Europe was lecturing the US about economic stability and tut-tutting about the Wall Street crisis. How things have changed. It turns out Europe is in as much trouble as the US. There is a lesson here for communicators. Know where you stand before presuming to comment on the plight of others. European finance ministers were thinking that the banking meltdown "can't happen here." It not only could. It did. They overlooked the global connections of finance. Now as they remove their feet from their mouths, they are trying to coordinate their own responses to a global banking crisis. It's not a pretty position to be in.

Comments:
I think we're all learning lessons about interconnectedness. It's a tribute to the importance of the US globally that we're all watching the presidential race with such interest, even though we don't get to vote.

Clearly, when the world's largest economy falls ill, others are going to suffer too.

But be careful about one assumption: that Europe can speak with one voice. Despite the efforts and achievements of the European Union, Europe consitsts of a growing number of independent states at diferent stages of economic development speaking many different languages. Vive la difference!
 
Europe was lecturing the US about economic stability and tut-tutting about the Wall Street crisis. How things have changed. It turns out Europe is in as much trouble as the US. There is a lesson here for communicators. Know where you stand before presuming to comment on the plight of others. European finance ministers were thinking that the banking meltdown "can't happen here." It not only could. It did. They overlooked the global connections of finance. Now as they remove their feet from their mouths, they are trying to coordinate their own responses to a global banking crisis. It's not a pretty position to be in.
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Tanyaa
Internet Marketing
 

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