Europe's debt crisis remains a thorn in the side of investors, and fears are creeping back that the euro zone is in crisis mode.
Consider that Italian bond yields topped the crucial the 7% mark on Thursday, and the euro currency dropped to its lowest level against the dollar in 15 months. That has Bob Doll, BlackRock's chief investment strategist, concerned.
"Europe is the most important risk in 2012," Doll tells Henry Blodget in the above clip.
The European Union's leaders, led by Germany's Angela Merkel and France's Nicolas Sarkozy, have pledged to work together to bring more cohesion to the 17-member bloc, and EU governments and the European Central Bank are determined to prevent the interest rates of Italy and Spain from rising to levels that forced Greece to ask for a rescue package. The ECB cut interest rates two times in the fourth quarter of last year and has been offering banks unprecedented deals to persuade them to keep lending.Read More »from Bob Doll: ‘Europe Is the Most Important Risk in 2012′