Hi, I am a 21 year old boy and a graduate in Commerce. I would like to study in a European counttry and settle down there. How do I go about the entire process?

Start with the nearest Embassy or other official representatives of the country/countries you're interested in.

What nationality are you? Which European country did you have in mind? Do you speak any languages other than English? Do you want to study or work? You need a different visa to study than to work.
The recession is still very present in Europe and jobs, especially for young people, are scarce. I suspect you would find it extra hard to find a job at the moment.
That said first contact the embassies of countries you are interested in to find out the legal requirements, then maybe look at expat sites, like expatica.com, which have job adverts, make enquiries about post grad studies at Universities in the country(ies) your choice.

What's a "job scenario"?

Do you mean are there lots of jobs going (no, there aren't) or how do you go about getting one?

To get a job in practically any European country you need:

- an employer to demonstrate you've got a skill he needs that he can't find from a citizen of a European (speaking English, by definition in the continent that includes England, can't count as such a skill) or
- to get your home-country employer to second you to his European branch

Studying in Europe is of little direct use in meeting either of these criteria, though it can't hurt. The main benefit is that it helps you network in your target country: you still have to meet one of the two criteria above

There are a few other routes (like, if you're American, working for the US military, or for anyone, working in their country's diplomatic service). But none really are conducive to settling here.

The easiest route for most people is to join a serious international business (ie one where career progression requires substantial international experience) like Citicorp or BP, then get transferred. The second easiest route is to become brilliant and well-known enough in your home country in an industry used to cross-border recruiting (like hedge funds) headhunters will track you down.

Bluntly: it's virtually impossible for a non-European to have a skill that can't be found in Europe without at least five years' real work after graduation and a decent track record. Getting a proper job at home is your first step

The only serious alternative to just getting bloody good at a real job is to explore Britain's Tier 1 programme (http://www.ukba.homeoffice.gov.uk/wo...tier1/general/). This allows you, if you qualify, to be allowed to work in the UK (and only the UK) without evidence your skills are unique or an inter-company transfer.

It's easy to study in a European country - all you need is shed loads of money to give to a university so you can get a student visa. In virtually every case that will give you the right to work in a country in order to support yourself

The other main alternative is a Working Holidaymaker program which many countries offer to under 30 yr olds but it's recommended (ie required) to have a few thousand US dollars available to cover you for the first month or two as you try to get work / lodgings

http://en.wikipedia.org/wiki/Working_holiday_visa

Working holiday visas in Europe are generally not available to US citizens, due to the US not offering a reciprocal visa, and are often limited to Canadian, Australian and New Zealand citizens.

But we don't know what citizenship(s) OP has

I know that - I was just pointing out that if he is from the US he can't go down that route. I did ask his nationality in my first post.

Could you qualify for dual citizenship ? If you by any chance have grandparents from some EU country you could apply for that nationality and get a EU passport.

There are only a handful, if that, of European countries that offer citizenship to the children or grandchildren of their citizens.

<<< There are only a handful, if that, of European countries that offer citizenship to the children or grandchildren of their citizens. >>>

In most countries having a parent who is a citizen of a country is enough for you to be an automatic citizen of that country. In fact in most countries it's the only way you can qualify by means of birth - ie you don't qualify for citizenship by being born there

Even if the OP qualifies to get citizenship it won't help him find a job which just isn't there. There are very few jobs for European graduates let alone for someone with a degree from a non European country.

He is asking about how to "settle there", hence my comment about obtaining citizenship. I know for a fact that Italy and Spain offer the opportunity to grandchildren.

Yes, and so did Ireland, but it's not the norm, I don't think, for grandchildren.

I can suggest you something regarding Denmark visa. Get a study visa first. After you complete your course of study in Denmark, you can stay there under the Greencard scheme that allows you to hold your stay in Denmark to find work. To know more about the Denmark greencard, refer:

http://www.europeoffice.org/denmark.html