20th December 2011

And, of course, a recession in Europe will have an impact on emerging markets through trade and financial channels. It's worth remembering that European banks are the dominant lenders into Asia where credit growth has been a key driver of economic activity.

But while the news continues to be dominated by the Eurozone, Josephine29 1 comments on Mindful Money economist's Shaun Richards' blog: "You make a good point in this post which is that we should also be concerned with the rest of the world. After all the vast majority of the planet is not in the Euro. If anything the danger is of it becoming side lined.

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