Spain and other Europe Events

With Spain now officially in recession and another domino falling with the events is the Netherlands, it is amazing to me the Euro is not trading 1 to 1 with the U.S. Dollar.  While in the near-term the U.S. economy appears to be holding up better, the outlook appears dim in the E.U. as citizens will need to decide on some tough economic measures to insure the currency survives in the present form.  With unemployment over 25% in Spain, and with youth unemployment running double that rate the country looks poised to join Italy as the next major dominos to topple over in the E.U.  How can I forget Portugal? Stay tuned.