I think one of the core problems in the whole euro zone disaster was the ability of previous governments with low credit ratings suddenly going from paying 8-10

I think one of the core problems in the whole euro zone disaster was the ability of previous governments with low credit ratings suddenly going from paying 8-10% on their bonds to 2-3%. Basically the lenders completely ignored historic risk, counting on the richer euro countries to bail out any country that abused the cheap credit. I think we are seeing the effect of that policy. For the people who are demonizing the Greeks I would like to remind them that it takes two to party. The drunk sailor who wastes all his money, and the fool who lends him more money, expecting to be repaid. Either there is a full currency union with the transfers (meaning more and more federal like rule) or we will get some sort of collapse of the euro zone at some point in the future.