Europe as continent has a host of financial difficulties ahead as does the US. The big gorilla in the room for both entities is wealth redistribution programs. Both now have so many people dependent on others to eat that is putting a tremendous economic strain on those that do work and produce wealth.

More than likely Italy and Spain, Greece, and Portugal will end up in full default within the next year or so and that will start dragging the rest of the EU into a real mess.

I hope something can be worked out for all your sakes and ours ( The EU debt has a real effect on US banks as well, because we are holding quite a bit of those notes through various financial mechanisms)