BUSINESS
04/09/2010 05:12 am ET Updated May 25, 2011

Simon Johnson: Europe Risks Another Global Depression

The entirely pointless G7 meeting this weekend only served to underline the fact that Europe is again entering a serious economic crisis.

At the end of the meeting yesterday, Treasury Secretary Tim Geithner told reporters, "I just want to underscore they made it clear to us, they the European authorities, that they will manage this [the Greek debt crisis] with great care."

But the Europeans are not being careful -- and it's not just about Greece any more.

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