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But blaming the victim will not solve the euro problem – and it is in large measure unfair.
The euro problem can then be defined a finding a way (1) to finance these imbalances in the short run (2) end the imbalances over the medium run.
If the height of such yields were the essence of the euro problem, then ECB bond-buying would indeed be a game changer.
If the euro problem does turn into a crisis, however, 2010 could turn out to be the year of the currency fights.
During his semiannual report to Congress on the economy last month, Mr. Greenspan expressed concern that the euro problem might be delaying the resolution of the year 2000 problem.
It's not that he believes a solution has been found to the debt mountains in parts of Europe; it's just that he thinks the euro problem has reached a plateau while China could be on the skids.
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1.25pm GMT Soros says euro problems could break up EU Back with the euro, and financier George Soros has said in an interview there was a real danger it could break up the European Union.
It is the demonstration of the period in which governance problems are, in my view, a sort of filo rosso, we say in Italian, a continuity, a fil rouge that links many countries and countries' problems, because, of course, if you look at European problems, at the euro problems, it is exactly a problem of political and institutional governance.
Many will also need to finance plenty of their own debt this year, and could find themselves in significant trouble if ongoing euro problems suck more capital back to the continent.The authors of the report game out two potential downside scenarios to the baseline forecast.
It is the old Euro-problem: when it deals with the nuts and bolts of trade and economics and the single market it is boring and ignored.
It misdiagnosed the euro's problem as mainly about fiscal profligacy, and was happy to take on new powers to monitor national budgets and economic policies.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com