What's with the elites' fascination with alleged European socialist superiority?
If you're a rich frog that eats snails, with lots of butter and garlic, you can afford to emigrate when the crap hits the fan.
The rest of them are refueling their torches, sharpening their pitchforks, and filling their Molotov cocktails for the next anti-government, anti-EU uprising.
Other people will run out of money for their European governments to spend.

Don't forget, that many of those European nations made their fortunes by enslaving other continents.