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Flashback If the Euro Fails...
May 19, 2010
VIEW: A clip about currencies and crises ... and the new era of risk and instability that comes from interconnected global markets.
The video is excerpted from The Crash, FRONTLINE's report that unraveled what happened the summer of 1998 when markets panicked. On Aug. 31, 1998 the Dow plunged 512 points, wiping out a year's worth of gains.
And it all began months earlier with a localized crisis. Asian markets were spooked by what was happening in Thailand and with its currency, the baht.
Featured in this clip is journalist William Greider.