This is an excellent brief book by an experienced financial journalist. Authers examines where the financial crisis in the Eurozone is leading, and what it means for global markets, including the US.
He pinpoints a few key causes of the current crisis: interconnected financial markets, the moral hazard implicit in a "too big to fail" environment, and the ingerent instability in the creation of the Euro. This latter element was very interesting, as Authers' explanation of how currency traders can take advantage of inefficiencies in the European bond markets made a lot of sense to me.
As much as the crisis is financial in nature, Authers is not hesitant to point out that some of the issues are political. Leaders in both the US and Europe have failed to create a stable environment where investors could behave rationally with trust in the economic and political systems.
This is a very readable book, targeted at educated laypeople. There is very little financial lingo tossed around, and Authers is skilled at explaining in non-technical language some of the more complex topics covered here.
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