On the Euro: Either closer fiscal union or end it. If the member state's debt can't be backed by a proper central bank, it's just a mechanism for shipping wealth from the periphery to the core.
People say that is not possible because of the Euro but that is BS, even on the gold standard countrys defaulted.
The reason that greek can not just default is because of EU regulation not the Euro per se (or any common currecny).
The defaulting country would have to default, balance the buded and start again (update there democracy and constituion would be a plus). Real wages would have to go down, lifing standards would go down, government handouts would have to go down but it would set a sound platform for recovery. The EU could help with Aid for the people that got hit hardest.
They should have done that in 2008, like iceland they would be much better of now.
Yet those countries are not obligated to do so. In the good old days of having your own currency you would just soak your own populace and foreign investors. With a joint currency your attempting to soak another countries people as a whole and that idea is not palatable to many.
Then there is this whole term of austerity. It certainly doesn't mean what it used too. Most of those countries whom activist and wanna be economist claim are being harmed by austerity are in fact being harmed by still increasing government spending.
Apparently austerity now means not spending as fast as before but it certainly does not mean spending less.