The Eurozone has long been an inefficient entity where farmers pour milk down drains and leave fruit rotting on the ground, to access subsidies from Brussels.
The chickens are finally coming home to roost.
Germany is none too happy to rescue underperforming economies like Greece and Bulgaria and this may lead to a financial crisis in the EU
I'd read this article if you have any funds in Europe. It may be worthwhile getting them out while you can.