Will the EU land collapses ?

Recent years we read from Dr. Mahatir and many parrots 'experts" that the world should move away from the US and start to get warm with the EU in order to break the US's dominance over the global markets. Many of them propose that everybody should start using the EUROs in the international trade. Iran started with their oil trade and Venezuela threathens they will follow.

Now with the current global financial crisis, it seems that the EU land is in a more dangerous position than the US with their financial system facing a total collapse. Please read:-

"the crucial problem on this side of the Atlantic is that the largest European banks have become not only too big to fail, but also too big to be saved. For example, the total liabilities of Deutsche Bank (leverage ratio over 50!) amount to about €2,000bn (more than Fannie Mae) or more than 80 per cent of the gross domestic product of Germany. This is simply too much for the Bundesbank or even the German state, given that the German budget is bound by the rules of the European Union’s stability pact and the German government cannot order (unlike the US Treasury) its central bank to issue more currency. Similarly, the total liabilities of Barclays of around £1,300bn (leverage ratio 60!) are roughly equivalent to the GDP of the UK....."

Daniel Gross, director of the Centre for European Policy Studies in Brussels

And you should take note many of the EU banks have high exposure to those former Eastern Bloc nations which joined the EU in the last decade. Most of their economy are already near collapsing.

So, the lesson to be learnt here is politicians (especially Malaysian type) know nuts about the real working of the economy and you should never park your money following their thinkings.