I suspect that this is about the only reason that the dollar and our interest rates are remaining as stable as they are; because poor Europe is so much further down the road to ruin and is on fire now.
The EU was a boneheaded idea to begin with. I expect the whole experiment will unravel. And that’s all it is...an experiment in social engineering on a grand scale; a way to marginalize sovereign governments and concentrate power in the hands of a small group of elite proto-bureaucrats.
And the fools on the left here are determined to catch up with Europe.