THE ECONOMIC AND FINANCIAL PROBLEMS IN EUROPE ARE ONLY JUST BEGINNING (Source blaclistednews.com) Right now, the financial world is focused on the breathtaking stock market crash in China, but don’t forget to keep an eye on what is happening in Europe.  Collectively, the European Union has a larger population than the United States, a larger economy than either the U.S. or China, and the banking system in Europe is the biggest on the planet by far.  So what happens in Europe really matters, and at this point the European economy is absolutely primed for a meltdown.  European debt levels have never been higher, European banks are absolutely loaded with non-performing loans and high-risk derivatives, and the unemployment rate in the eurozone is currently more than double the unemployment rate in the United States.  In all the euphoria surrounding the “deal” that temporarily kept Greece in the eurozone, I think that people have forgotten that the economic and financial fundamentals in Europe have continued to deteriorate.  Whether Greece ultimately leaves the eurozone or not, a great financial crisis is inevitably coming to Europe.  It is just a matter of time. In many ways, the economy of Europe is in significantly worse shape than the U.S. economy.  Just recently, the IMF issued a report which warned that the eurozone is “susceptible to negative shocks” and could be facing very tough economic times in the near future.  Nothing has been “solved” in Greece.  The only thing that has been accomplished so far is that Greece has been kept in the euro (at least for the moment).  But for the average person on the street things continue to go from bad to worse. Yes, definitely keep an eye on what is happening in China.  Without a doubt, it is very big news. But I believe that what is going on in Europe will ultimately prove to be an even bigger story. The greatest financial crisis that Europe has ever seen is coming, and it is going to shake up the entire planet.