The European Crisis

Perhaps an unlikely candidate for the "undernews" category, the ongoing European financial crisis has not gotten, in my opinion, nearly as much attention in the media as the gravity of the situation would warrant.  Today, Walter Russell Mead writes about how the Germans may finally decide to stop subsidizing the rest of Europe through these serial bailouts.  Today's UK Guardian reports on how the crisis is producing another "lost generation" in Europe, as young adults are unable to begin careers.

Meanwhile, Fitch Ratings cut the credit ratings of five European countries, including Spain and Italy.  My advice is to follow this story carefully.