Europe in Trouble

Greece Spain and Europes financial woes

It had to happen. Liberal social services without properly taxing income. Little or non existent private sector enterprise have led to the apparent meltdown of the Euro. Greece and Spain are in trouble as they will not be able to pay out loans received on time. This will devalue the Euro sharply and cause defaults of banks and other financial institutions. As there is a close connection to all in financial markets a recession or depression or eurocession will happen.
Everyone is in agreement that all this bodes bad things for Europe not all agree how contained the trouble will be. Some economists insist that by the nature of financial global structure the United States Economy will suffer. Others say that because Europe will become an unstable place for investment European money will start flowing in the United States stock market. The devaluing of the Euro may help the crisis as cheap goods will be bought in Europe by the influx of dollars. These goods will be bought cheaply in the US and help the local United States Economy.
Greece and Spain will suffer greatly from this crisis as they have been irresponsible in their fiscal planning and have used money they do not have.
Many of these teeter toter countries are having troubles in many areas including immigration and political turmoil.
Europe is in trouble.
Big time