With growth in the euro-zone roughly on a par with the 3-3.5% forecast for the United States, and with the euro-zone's trade surplus a stark contrast to the Americans' deficit, the euro is due for a correction.

ECONOMIST: The euro-zone

Even though many economists predict a recession in the euro zone in the first quarter of 2012, UBS said it doesn't forecast a collapse in European corporate profits.

WSJ: Upside of the Euro Crisis: Bargains in Blue Chips