Published by Mark Smith-HalvorsenInvestment strategists have warned that the sovereign debt bubble in Europe could have a bigger impact than the sub-prime or credit crisis.John Mauldin, an analyst at Investor Insight, wrote in his column that his colleagues at the Strategic Investment Conference held over the weekend were largely in agreement that the European debt crisis is currently the greatest threat to global economic stability."Everyone is hopeful that a major breakup can be avoided, but the problems the Mediterranean countries face are serious. I got the sense that most everyone expects the euro to fall further over the coming years," he commented.He added that he cannot see how Greece can avoid defaulting on its current debt obligations, and insisted that the "band aids" provided by the International Monetary Fund and the European Union will prolong the crisis, but not avert it.Over the weekend, Greece made a formal request for support to the International Monetary Fund, in a move that calmed markets and helped bolster the euro in forex trading.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site