WASHINGTON (MarketWatch) — Europe is a tinderbox waiting for a spark. The euro-zone crisis has gone beyond the prospect of breaking up the euro to the threat of an economic collapse that could plunge the world into a second Great Depression, writes Darrell Delamaide. • Moody's 'core' warning flags yield-chasing risk | Yield on Spanish 10-year stays elevated The financial volatility in Europe may have created a situation that is now beyond the capacity of policy makers to control or curb. When an accomplished fixer like Pascal Lamy, the head of the World Trade Organization and the longtime chief of staff for former European Commission President Jacques Delors, describes the situation in Europe as “difficult, very difficult, very difficult, very difficult,” you know it is time to run for cover. http://www.marketwatch.com/story/euro-crisis-brings-world-to-brink-of-depression-2012-07-24