>The real issue is that when they created the Euro, they failed to consolidate the debt of all the nations. No one failed, we just didn't want to (for reasons

>The real issue is that when they created the Euro, they failed to consolidate the debt of all the nations. No one failed, we just didn't want to (for reasons very obvious now, in hindsight). Also, the countries (Spain, Greece, Portugal...) accumulated most of the debt _after_ they got the Euro precisely because the Euro enabled them to do so.