The scariest thing about this is that when you go down, you take a lot of european countries down with you.

Of course, european governments are guilty as well. Some were smarter and have always had stricter financial laws (France) so they aren't hit so hard, some others believed the american financial hype and are in deep trouble (England).

Let's all learn Chinese and switch sides before it's too late for us europeans wink (<--- only kidding, the Chinese are as greedy in their financial decisions, they are just in a better position now because they are a new economy and people don't expect yet all the luxuries of capitalism, but soon, 1 billion people will be asking for a private detached house and a car for each person over 15).