Keeping An Eye Accross the Pond

If you think things are bad in North America right now, you're right. However, it could always be worse, just ask Europe. I think Germany has won the race for first major bank to be partly nationalized in 2009, the honour goes to Commerzbank. Elsewhere, the Celtic tiger continues to bleed profusely. This time it's Dell kicking the Irish when they're already down. If you think North Americans are the only ones losing auto jobs, think again. Nissan's cutting jobs in the UK. Finally, Spain's economic woes continue with unemployment over 13%. I've said it before, but the next big shock in this economic crisis is coming from Europe.