You thInk we have it bad? Check out the EU!

The EU does not have the financial system to support this growing collapse. Under normal circumstances the EU can't agree on much and under a crisis that involves huge sums of money they can't agree on anything and certainly not with the speed the US has responded with. Even mighty Russia is sinking fast. They were pretty cocky 2 years ago when oil was so expensive, they mortgage their future on oil staying high... doh! Cheap petro for me!

Read this article though, it will give you a good understanding of the extent of this crisis.