I'm not sure that the rest of the world has effectively addressed their problems. A lot of money running to safe havens right now, which means a lot of it coming into the US. Unfortunately, it isn't going into capital investments.

I don't see any real improvement in the US economy until we start seeing real improvement in the employment market and stopping the erosion of the real spendable income in the working and middle class.
I don't really see that happening until we get a Congress that understands that Free Trade is a fantasy and stops and reverses the flow of manufacturing jobs out of the country.

As I stated before, I don't think the Euro can survive in it's present form.