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No wonder, even in this period of relative calm, that fear remains so close to the surface.
Brexiteers cannot get what they want until that fear is calmed, and they cannot calm that fear unless they have control of the Conservative Party and the government.
And at least so far, the central bank has not done the one thing that could help calm that fear: declare that it stands ready to be the de facto lender of last resort to national governments.
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Not much coming out of the Beltway is calming that fear and the reason is Washington won't touch the untouchables.
The second step is to respond to that fear with calm deliberation rather than rash acts that may lead businesses into deeper trouble.
Congressional Republicans, Democrats and the White House are about to strike a compromise that would raise the debt limit, prevent a government shutdown and calm financial markets that fear of -- another Washington-created crisis is on the way.
That calmed some fears that Wall Street's players would face a liquidity crisis as banks worldwide continue to refrain from lending to one another amid concerns about souring debt tied to mortgages.
But he has called for greater cooperation with the international community in search of a concerted diplomatic solution that will calm Western fears that Tehran is on the way to developing nuclear weapons.
Though my politically astute friends try to calm my fear that he will win the White House, I am not so sure.
EU leaders were taking their turn on the third day of talks designed to forge an economic crisis response that will calm market fears, and reassure that the eurozone can implement measures to withstand current and future economic shocks.
That's a less confrontational approach, which will calm fears that the row between Washington and Beijing was escalating ever higher.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com