If I was a betting man I would say that they keep it together, by further integrating politically.
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It sure looks bad from the perspective of Anglo-American press but they have a huge bias in tearing down the EU to distract from US own fiscal problems.
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I would not be surprised to see another 8 months of stability in the US with some inflation of food and energy prices.. followed by the EU temporarily getting it’s house in order 8 months from now and the crisis swinging back to the US.(this economic crisis may ping pong around the world like this for awhile).
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Also I think players like China and Russia will support the EU because those two entities wish for counter balance against the US.
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I sometimes think if you want to know how the US is doing look at the price of gold. Gold has been retreating some lately so I think the US must be doing better for the moment.