The problem with EU is too much focus on Germany and to some extent France. The have not countries always suffer more during downturns. ECB will not lower rates for the smaller countries who need it due to inflation concerns in Germany.
Always been that way. ERM crisis was due to that.
Quote from condorll:
Europe will be America's dollar store again. Count on it.
I say everyone should boycott Europe until they get rid of the Euro. Spend the next several years vacationing in places like Asia, Latin America, Australia etc and let Europe's economy tank. Then once the Euro is history and a massive devaluation has occurred we will go back to Europe again.