The European economic situation is becoming a world problem. There seems to be no way the Euro can be saved. There will definitely be a flow-on effect to the world economy. Despite the new agreement, without the UK, nothing has really changed. The regulation and punishment for spending too much is too late for Greece, Spain, Portugal, Ireland and Italy. When these countries ultimately default, and they will, France and Germany will be drawn into Depression with them because their banks have continued to lend to these deficit countries. There will be another problem in Europe that no one has highlighted. When unemployment gets too high in the struggling countries life will be unbearable. Labor is free to move across borders in the EC. Workers will move to where the work this. That is Germany and to a lesser extent France. Economic refugees will flood across the borders. The UK will not be exempt from this. For centuries England, Scotland and Wales have been destinations for w...
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