No one knows, but it won’t be good. The world is so interconnected that the collapse of Europe will cause signficiant disruptions around the world. We will lose markets and suppliers. Financial institutions will collapse and credit markets would freeze much worse than we saw in the fall of 2008.
Both China and India will lose large markets. Russia will have a very large playground but it will lose a market for its oil and gas.
It would be a bad time.
I don’t know what you mean by “playground” when you say, “Russia will have a very large playground.” However, it seems likely that the Muslim countries of the Middle East are the ones that will be in a position to do the most harm. They have the wealth to acquire cheap European assets and to make loans (with whatever conditions they desire) to European governments.
There is considerable irony in the fact that Germany (and if Germany opts out, the financial supporters of Muslim Terrorism) may hold the fate of Western Civilization (or at least that part of Western Civilization that does not include the U.S. of Obama/Marxism) in its hands. So here we are: “the grandchildren of Nazis or raging Muslim Hordes in control of Europe and Obama’s Marxists in control of America. And we Tea Partiers just sit here on our duffs admiring our insignificant selves and thinking we will make a difference. Right!
I wonder, if whether or not the destruction of the EU would be a good thing. There’s a lot of inner squabbling and only a handful of countries really have any say. Furthermore, the collapse of the Euro (which is incidentially stronger than the dollar) might actually help the dollar since the countries, if they revert to their old currencies, will be considerably weakened. Then we’ll be able to make more strategic alliances without the EU, since there won’t be an EU.
We could make treaties with Greece, Italy, who knows who else without having to deal with any European hegemony. France and Germany will be in a less significant position and with no massive EU uniting the countries, it might very well lead to less of a chance of war. A main cause of WWI was the fact that so many countries had interconnecting treaties that it was inevitable that the world be dragged into full blown war despite the triviality of the actual situation.
If other countries decide to support the war effort in Iraq or Afghanistan, then it would be fantastic and the EU (since it would be gone) wouldn’t be able to stop us from gaining much needed strategic alliances. The dollar is stronger, the ability to make indepedent treaties with even more independent countries, and then much more flexibility. On a whole, the collapse of the EU would be better for the US than worse.