Is Europe Sailing on the Titanic?

Is Europe Sailing on the Titanic?

For consider the gathering crisis on the old continent.

With negative growth now for six months, Britain has fallen back into recession. "I don't think we're anywhere near halfway through the eurozone crisis," said Prime Minister David Cameron this weekend.

Romania's government fell last week. The Czech government barely survived a vote of no confidence. In the capital cities of both countries, tens of thousands have angrily protested the new austerity.

The Dutch government also fell last week, when the...