I am no economist and I am most certainly not good with macroeconomical numbers of the debt crisis, but I feel that the crisis now in the EU and the Eurozone is by far not only about numbers.
Countries all over the world have felt the crisis and many countries not only those in Europe are in deep debt. Of course the true essence of the European crisis is that it is in the interest (or so it seems) of the Eurozone countries to bailout each other and to share the responsibility over the mistake of another. My question is simple is the solidarity among the peoples of Europe strong enough to back initiatives of such nature? To me it seems not... and it is definitely not the common Europeans fault. What we see is that the politicians the leaders of this continent and of course of the financial institutions try to work out a plan that can help the nations in need and a plan that is strong enough not only for a country like Greece, but also for Italy or Spain.
In my view such plans would work if the societies that need to back the politicians making the decisions weren't in plural rather they would be a sole nation, which of course is not the case. The process of what we see is that the top level politicians heads of states and heads of governments as well as financial leaders are eventually moving towards a more unified Europe something of a true federalistic state-like nature. Yet at the same time the voices that can be heard from within parliaments and people on the street make it clear that there is no social lacking behind the creating a something more federalistic. Furthermore it is my deep concern that the way that the EU and Eurozone leaders communicate their joint actions gives way to irresponsible political voices, whom by exaggeration, mistification and by misleading the people of Europe can earn platforms for their extremist views. As the latest example shows CNN reported on the Conservative Party MPs calling for a nationwide referendum in the UK on leaving the EU and this is of course by far not the worst since I am not even detailing the politics of right extremist parties.
I do not know the answers, but I know you cannot build a system without the nation(s) on board. This is a lesson history has taught us. A lesson we here in Central and Eastern Europe know all too well.