Steve's barking Europe's not close to be out of the woods

Now call me a fool, but the Europeon Union is really in trouble.
Take that stock markets.
If your customers can't afford your products, sorry Charley you'll make no money.
Find other customers, after all there are millions of customer in Asia. The majority of Asians can't afford your products, but if enough can, well maybe the part of Europe known as Germany might not have this gigantic down turn, and the ruling party will continue to rule.  The problem being the other members of the Union, their workers can't afford the life style that they become accustom to, like eating what they like, and living in a place that they like, never mind buy goods and services from their fellow members.
Now it stands to reason if no one is buying the products that are produced in a particular state the unemployment in such state will be high. Now if money is being lent out from lending institutions  as the World Bank or IMF or who ever the lenders of last resorts are to banks that are almost tapped out or governments to help pay it's bond holders you might as well take that money and burn it, for there's no way that the'll get their money back. You can't tax anybody who's not making any money and  has no way to pay their loans back and to pay the new higher taxes. They will not be able to even pay lower taxes. ( You can't get money taxes from thin air).
Now that I've written what some people might call rubbish, I have one question that can be understood, are the financial markets ready for Europe's answer to the Arab spring?