"The president of the European Union has warned that the EU could collapse unless the debt crisis that is gripping the region is resolved. Herman Van Rompuy, president of the European Council, raised the stakes ahead of this evening's showdown talks between finance ministers in Brussels. With Ireland and Portugal both on the brink of seeking a bailout, Van Rompuy warned that there is a serious risk of contagion spreading across the continent." Read more. "Ireland Crises Could Cause EU Collapse, Warns President" Julia Kollewe Guardian, November 16, 2010. Image by renjith krishnan / FreeDigitalPhotos.net.