I think old Europe is going to fold up after the glamer of the Euro subsides a bit.
Reality will bite them in the butt when it hits.
As Rush just said "...Greenspan isn't going to let things get out of hand... Yeah, they got some problems over in Europe (with the Euro), but that's over there - it isn't here. I got a note from a friend over in London today saying that a double cheeseburger at Wendy's is $12 bucks. That's their problem, not ours."