How Europe's Financial Crisis Will Impact It's Defense Budgets

What Now For European Defense? -- Faster Times

The Greek bailout drama has served as a warning signal for Europe regarding its respective ticking debt time bombs. Across the continent, governments are looking at shoddy fiscal ledgers and growing public debt. The possibility remains that Greece represents but the first act in a full-production European tragedy, with each scene moving successively from Athens to Lisbon to Madrid and beyond. Though the European Union has attempted to mitigate such potential damage with a EUR750 billion ($953 billion) bailout package for distressed eurozone members, this merely papers-over those countries serious underlying difficulties.

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More News On Europe's Financial Crisis

President Nicolas Sarkozy 'Threatened To Pull France Out Of Euro' -- The Telegraph
Anxiety, fear, and SPECULATION over "euro breakup" trigger a new sell−off taking euro below $1.25 -- FX Street
Growth, rate worries drive euro to 18-month low -- AP
Euro at 18-month low against dollar as eurozone fears spread -- The Telegraph
Euro Slumps as Jitters Over Greece Return -- New York Times
EURONOMICS: Worries About Europe Debt, Economy Return -- Wall Street Journal
Euro not out of the woods yet -- CNN
Europe enters era of belt-tightening -- Financial Times
Prudent Germany traumatised by task of coming to Greece's rescue -- Irish Times
Greece's troubling gift -- L.A. Times
Europe: A pause in the crisis -- Gawin Hewitt, BBC
Euro Has No Future Without a Political Union -- Paul De Grauwe, Bloomberg Businessweek
Current debt trajectories are unsustainable -- Irish Times
No going back: Ambitious but incomplete, the rescue plan for the euro could change the way Europe is run -- The Economist