Of course it is. Just as ours were. For instance, what if, say RBS went TU? Ireland is supposedly "recovering", but I smell Dead Fish, and a prop job to outdo the last one. Portugal and Spain have had extremely high unemployment, even in the "good times", now at least 25%, if not 30%. Greece probably about the same. I met a 27 year old man who was unemployed and 3 generations were all in the same home, yet he wasn't wealthy and had an education. Another man was an Italian, and an MD, yet his Mother phoned, and he apparently was sharing living quarters with her, in his late 30's/early 40's. Yes, some of that is cultural. The majority of it is economics. And this was in 2006.