Krugman

His Op-Ed tomorrow is called "The Euro Trap" and warns against the possibility of a Euro collapse and EU re-alignment.

He states "what the crisis really demonstrates..is the danger of putting yourself in a policy straightjacket".

Very good, so it is only a lack of flexibility and an unfortunate lack of foresight that caused the crisis. In other words, more power should be assigned to a central authority in order to avoid crisis. What could possibly go wrong?