No fan of the Euro myself and would like to see its orderly collapse (if there is such a thing). However, this is a smart move from someone who has a good reputation and prepared to be proactive and imaginative.
As always the only real solution is for the West to wean itself off credit and return to properly paying its way in the world.
In the meantime the structural problems continue with the southern states on life-support, being funded by the Germans for the foreseeable future. How long this will last before one party decides enough is enough is the 64 million dollar question?
