Note: To enlarge, double-click inside of it. Not one single country in the EU is in compliance with its Stability and Growth Pact, which limits budget deficits to 3% of GDP. (In other words, where is the incentive for any country to be in compliance? Answer: Absolutely none. If the pact was enforced, it would discipline every single country for allowing its deficits to exceed the pact. What a joke!) And what is the EU's solution? Simply more debt, which is totally insane. You don't cure a debt problem with more debt. You just buy a little bit of time! And, that is what the EU has done. You may want to consider buying the following ETFs: EPV (200% short the MSCI -- Europe Index) and EUO (Ultra-short 200% Euro).
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