This article quotes Finland's finance minister saying that the nordic nation is prepared to exit the Euro if it is required to pay the debts of other nations. She says that "Finland is not going to stay within the Euro at any price." This is a serious escalation of rhetoric by a top official and investors around the world should take note. The sentiment expressed by Finland's finance minister is not isolated. This sentiment is growing throughout Europe and poses a nontrivial threat to the integrationist project.
I believe US investors are dangerously complacent regarding what is really going on in Europe.