It will destroy tons of people, firms closing, liquidity and spreads back to the 80-'s-90's.
The good thing is the Europe is intent on destroying themselves...let them pass it and they will be shitting bricks when their markets grind to a halt and they get less revenue than before.
The biggest threat to the free world is not terrorism...it's liberal's. They lie so well and want to tax and spend and bloat all guberments, they get so many people believing them...scary.