If Italy, Spain, Portugal and possibly Eire go bust, then that is the death knell of the Euro and probably the whole EU as well. There will be riots, looting and all sorts of mayhem on the streets of Europe. This may in turn spread to America, as they must bring in austerity plans soon, too. They cannot go on just printing Dollars for ever. As Europe closes down trading will become difficult and there will be shortages in America. Companies who sell in Europe will not be and probably go bust in the USA.
2012 is going to be quite a year to remember!!!
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