Unrest is spreading across Europe, and it's a bad sign for the region's stability and its economy.

• Big protests have broken out in France and Italy, with looting, arson, and clashes with police.
• The official reason given is anger over underfunded schools, but the unrest looks like a symptom of something bigger.
• Decades of heavy government spending on social programs has left many European countries short on money.
• Some argue immigration was meant to boost the workforce and tax base, but critics say that approach has failed, fueling more public anger.

Outlook: Expect more protests and political instability in Europe unless governments find a way to fix their finances or address public anger over immigration and the economy.