Debt cuts are one thing, but I see no reason to believe that there's a wide enough acceptance for a EU-wide fiscal policy to go along with the unified monetary

Debt cuts are one thing, but I see no reason to believe that there's a wide enough acceptance for a EU-wide fiscal policy to go along with the unified monetary policy. I might see France and Germany going along with that (mostly because it'll basically be their policy), but the UK won't have none of it -- and I don't think the PIIGS states would accept it either. On the other hand, if things keep going wrong, people might just be forced to accept this as a fact, I just hope it won't be too late by then.