The issues in Europe remain both important and complex and promise to continue to be that way for some time. Does that mean war will break out? Complicated, difficult and significant situations have characterized international relations in other areas and other times in recent history without war breaking out.
A bad economy can lead to war, but that is not the only condition that is needed. The difference here is that it seems like Europe is becoming more united, especially with the Euro. Yes, this is causing problems, but it still puts everyone in the same boat. A war in Europe would be more of a civil war now.
I agree with the others. While economic events in Europe are troubling, it is far from certain that they will have long-term economic consequences for the rest of the world, much less that they will spark a war. There are always conflicts in the world, including clashes of cultures. There is no evidence that we are witnessing the outbreak of a crisis of the same proportions as that which brought about the first and second world wars.
I do agree that parts of Europe are experiencing difficult times which can cause tension between nations. However, I see no evidence of a World War Three situation. The nations of Europe are struggling to work together, but they are trying. They might have a difficult time now and in the future, but they are not against each other. Much of the difficulties in Europe stem from financial crisis. A country in a financial crisis isn't likely to start or join a war. Wars are expensive. There is unrest in many nations but the people are uprising against their governments and the austerity measures not against other nations. I'm not sure what outbreak you feel would be leading to World War Three.
Economic problems can lead to war indirectly. Greece isn't going to declare war on anybody if it doesn't get the bailout it wants or if it is expelled from the European Union, but the possible ripple effect from Greece's problems can put pressure on other countries which can lead to international tensions. There's a very small chance of this kind of thing leading to armed conflict, but anything that puts a country in a desperate situation can be dangerous for them and the countries around them.
Are you talking about the economic problems that Greece and Spain and such are having? I cannot see any logical path between these problems and any war, let alone a world war. Who do you see going to war with whom? Why?
Cold you please explain in what context you are referring to 'outbreak in Europe' so that the discussion can move in a focused manner. Otherwise one may say that the World War 3 is the 'Clash of Civilizations' that has already started. Look at all the disturbances in Muslim world with many external motivating factors. A glaring example is attack on Iraq with false accusation of Weapons of Mass Destruction.