When I was working on my project for SC05 with the climatologist, he was asked during our presentations about global warming. He stated that he'd recommend against beach front or European property. He stated that the Greenland Ice Cap was going to be toast by sometime around mid century. Besides the obvious fact that all that water makes a slight increase in the water levels, he also stated that the weather in Europe was get...interesting.
Primarily because the Greenland Ice Cap actually acts as a block on the wind current around the world at those latitudes. It makes a significant bulge in the atmosphere into space. This dictates the European climate, he stated, as much as the Atlantic Conveyor.
I'll have to poke him about what exactly the effects would be.