Three of the major drivers of Global economic growth: the US, Europe, and mainland China , are all on the verge of economic slowdown, if not outright collapse. Usually, if one region of the globe is contracting other regions are growing and able to take up the economic 'slack'. For the first time in modern history, all regions are slowing at once. This is uncharted economic territory.
Greece is the poster child for Europe's economic problems, but they are not alone. Europeans have lived beyond their financial means for decades and now the bill is coming due.