KPNQwest's network, which carries a quarter of Europe's Internet traffic, remains live for now, but could close at any moment as a court order on Friday left the trustees with no money to pay staff. ... The bandwidth that the Ebone European backbone network leases from service providers is likely to be turned off within the next few days.

If you need to get any data from Europe, you should act now. Routing tables will adjust, but congestion is lkely to be a problem.