{"72468":{"#nid":"72468","#data":{"type":"external_news","title":"Boston on European Financial Crisis","body":[{"value":"\u003Cp\u003E\u0022It has a significant ripple effect, because the five largest banks in this country are heavily invested in Euro zone countries,\u0022 said \u003Cstrong\u003E\u003Ca href=\u0022http:\/\/www.iac.gatech.edu\/faculty-and-staff\/faculty\/bio\/boston\u0022 target=\u0022_blank\u0022\u003EThomas \u0022Danny\u0022 Boston\u003C\/a\u003E\u003C\/strong\u003E, Professor in the School of Economics, in an\u0026nbsp;interview with BET about how the financial crisis overseas affects the U.S. economy. \u003C\/p\u003E\u003Cp\u003E\u0022Bank of America, for example, had some $17 billion dollars invested in the five countries facing the largest problems. JPMorgan has $14 billion [invested]. The probability of default hits them directly. If you take the case of Greece, as a part of the agreement struck a few days ago to rescue the country, it was mandated that private institutions holding Greek debts have to take a 50 percent loss. That\u2019s huge. That\u2019s writing down billions and billions of dollars.\u0022\u0026nbsp;\u003Cem\u003ESource: \u003Ca href=\u0022http:\/\/www.bet.com\/news\/national\/2011\/11\/07\/how-does-the-european-debt-crisis-affect-you-.html\u0022 target=\u0022_blank\u0022\u003EBET.com\u003C\/a\u003E, November 7, 2011\u0026nbsp;\u003C\/em\u003E\u003C\/p\u003E","summary":null,"format":"limited_html"}],"field_subtitle":"","field_summary":"","field_summary_sentence":"","uid":"27418","created_gmt":"2011-11-08 11:15:14","changed_gmt":"2016-10-08 02:25:13","author":"Lauren Langley","boilerplate_text":"","field_publication":"","publication":"documenary","field_article_url":"","publication_url":"http:\/\/www.bet.com\/news\/national\/2011\/11\/07\/how-does-the-european-debt-crisis-affect-you-.html","dateline":{"date":"2011-11-07T00:00:00-05:00","iso_date":"2011-11-07T00:00:00-05:00","tz":"America\/New_York"},"extras":[],"groups":[{"id":"1281","name":"Ivan Allen College of Liberal Arts"},{"id":"1282","name":"School of Economics"}],"categories":[{"id":"134","name":"Student and Faculty"}],"keywords":[{"id":"15004","name":"BET"},{"id":"15003","name":"European financial crisis"},{"id":"1871","name":"thomas"}],"core_research_areas":[],"news_room_topics":[],"event_categories":[],"invited_audience":[],"affiliations":[],"classification":[],"areas_of_expertise":[],"news_and_recent_appearances":[],"phone":[],"contact":[],"email":[],"slides":[],"orientation":[],"userdata":""}}}