Another factor adding to the unsustainable economic system has been the influx of refugees. Scandinavian countries have had a rather simple set of problems when isolated in their homogenous societies. The challenges of diversity and strain on public welfare systems were minimal.
The European nations have never really had the challenges faced by the USA when it comes to diversity - we have not done a bad job of taking in "your tired, your poor, your huddled masses yearning to be free". Not perfect, but if you want to see real bigotry, racism and anti-semitism - check out Europe. Europeans may be in love with Obama; so why are their leaders all rich white guys and gals?