The sovereign debt crisis kicked off in late '09 early '10, just as the US was exiting our recession. 4 _years_ of negotiations and masochistic austerity programs followed. Meanwhile the US had fully stabilized our financial system by Feb '09 and by 2010 had passed significant banking reform legislation, while in Europe they'd been playing wack-a-mole with bad debt for a year, and it still wasn't clear anyone would get bailed out.
Even without the austerity the delay in stabilization and the realization that the ECB might actually let a member states bonds fail would have made the US market look absolutely phenomenal in comparison.
Even without the austerity the delay in stabilization and the realization that the ECB might actually let a member states bonds fail would have made the US market look absolutely phenomenal in comparison.
Statistics: Posted by barcharcraz — Mon Jan 22, 2024 11:13 pm — Replies 2 — Views 612