Europe: Conclusion

My thoughts on Europe are simple. The European Union will be saved. It will likely emerge from this economic situation in a different and stronger form, although it will probably take us a few years to understand exactly how it's going to look. It's also increasingly likely that whatever ultimate form it takes will feature a stronger Berlin, Paris & London axis although power will likely still be wielded out of Brussels.

The reason for this analysis is simple. Europe together has either the 2nd largest or the world's largest GDP. Alone these are in most cases tiny countries. The US has for example 14 states with larger GDP's than Greece. Its economy is about the size of Massachusetts.

At the end of the day these countries are going to hang together or hang separately. For them bigger is better.