Detailed text transcripts for TV channel - FOXNEWS - 20120515:17:06:00
Here's the theory: greece cannot and will not pay its debts. if that goes over to spain, ireland, portugal, then you've got european financial institutions, the big banks over there, exposed to trillions of dollars worth of risk. now, those institutions there, the banks in europe, they are hooked very closely into big american companies. there's a free flow of money on an instantaneous basis to and from across the atlantic. if there was a crisis in europe of that magnitude, if greece spreads, then you've got the seizure of the international flow of money just like we had in september of 2008, ...
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