Eurpoean woes

It's been a while since I last wrote, but the developing issues in Europe on top of the recent skirmish in the Korean peninsula isn't sitting well, even as the portfolio of stocks I manage has done well this year. Is it just me, but does anyone really know how connected the US markets are to problems in Ireland, Greece, and the festering issues in Spain? I don't, and I'm sure no one else can give you a straight answer either. Ever since the Greece debt issues came to light, I've been slowly unwinding some positions and continue to maintain a large share in cash. Staying safe.