Experts don't expect the continental economy to tip into a recession, but Warner and other experts say they're worried about how vulnerable the region looks.
If those weak points and threats weren't enough, Warner doubts the European Central Bank will be able to do anything to avert a bigger economic crisis if one develops because interest rates are already at zero and the bank is already attempting to stimulate the regional economy. "They're out of bullets, or they're very close," said Scott Minerd, global chief investment officer for Guggenheim Partners, which manages $265 billion in assets.
"The EU has not yet completely harmonized their approach to banking and reform," Hunt said."There are some very clear things that Europe needs to do to get ready to the next turn" in the economic cycle.