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"General Dempsey said it was still unclear whether measures taken so far ''will be the glue that holds it together''.
His remarks echo those of some economists, who have warned the collapse of the euro zone would reverberate well beyond the financial sector. Prominent Citigroup economist and former central banker Willem Buiter warned last Thursday that a fully blown break-up of the euro zone could spell a global depression and ''pandemonium''.
Defaults and euro zone exits by Portugal, Italy, Ireland, Greece and Spain ''would drag down not just the European banking system, but the north Atlantic financial system and the internationally exposed parts of the global banking system as well''.
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