The Economist took an unsurprisingly British perspective on the result of last week’s summit of European leaders. Calling it “Europe’s great divorce,” the magazine that calls itself a newspaper led with the United Kingdom’s decision not to sign onto a new treaty of 23 nations that is designed to establish more careful, centralized governance over each country’s budget. This is all intended to promote austerity and more responsible decision-making in Europe, in the hopes that this will relieve investor angst over the 17 countries that make up the troubled eurozone. I’m not sure that the U.K. is the story here, unless of course you’re British. And like a lot of market watchers, I’m doubtful this deal will solve the crisis.

The risk of a global recession is “high,” says Sadiq Adatia. He doesn’t expect a long one, unless Italy’s debt woes spread across the eurozone.

New political leadership in Italy will result in much-needed mid- to long-term structural reforms. But it won’t be enough to resolve the troubled country’s short-term debt problem, and Italy will be one of several countries to exit the eurozone. That’s according to a forecast by Megan Greene, director of European economics at Roubini Global Economics. She predicts a domino effect kicking in as early as 2013 or 2014.

Canada represents less than 3% of the global economy. So why do we insist on investing so much of our savings inside our home and native land?

The S&P/TSX Composite plunged 800 points last week as a result of new concerns over the eurozone and the U.S. Welcome to our baby bear market.

Canada’s shrinking economy, signs of recession in the U.S. and the price of sending them back to school.

A recession warning, extending the short-selling bans and your books for free.

In a sign of how deeply troubled the eurozone is now, a number of high-profile thought leaders are publicly questioning the viability of the union in its current form. This is not the sort of thing one does without careful consideration. And certainly the people on this list are not known for flippancy.

More market losses, the dangers of recession and the benefits of a fake alien invasion.

Canada’s prosperity, Ratigan’s rant and the cost of collecting.