Money is leaving the Euro zone and heading across the Atlantic to the US, because investors with lots of money to lose see it as a saver haven. That in itself shows how dire the economic situation in Europe has become because the US itself is not all that flash but it is more attractive than the Euro black hole.
That black hole is getting a whole lot bigger - Spain is now teetering on the edge of the vortex to a debt default. The Spanish government now has to pay 6.7% interest on its debt, compared to 1.7% in the US. That is how much of a risk the markets are now viewing Spain.
