[Osem]

What is is they say about pride coming before a fall?

The Eurocrats need to start accepting what's been staring them in the face that the game is up and the Euro can't continue in its present form. Far better to restructure the club and allow some members to leave in a relatively orderly fashion than to carry on pursuing the grand project in denial until it all collapses. Yes there'll be short term turmoil if Cyprus and others have to leave but that prospect must have been factored in already to some extent by the markets (whose decisions aren't governed by political expediency) so it wouldn't be a complete surprise. It'd be like lancing a boil - painful in the shirt term but necessary for recovery.