Austerity is losing its luster in Europe, as France and Germany battle over deficit reduction. But will the fight overseas affect investors in the United States?

In the following video, Fool markets analyst Mike Klesta talks with Fool contributor Dan Caplinger about the future of austerity and whether American investors should worry.

Neither Fool contributor Dan Caplinger nor Mike Klesta has a position in any stocks mentioned. The Motley Fool recommends Goldman Sachs and owns shares of Bank of America, Citigroup, and JPMorgan Chase. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.