I'm going to put forward a couple of ideas that I think my commenteriat and I mostly agree on. If I'm wrong, let me know.
The core problem for all the troubled Southern European countries is that they aren't living within their income.
They got in this fix mostly through debt - government, business, or private.
We deeply disagree about how they can get out of their respective fixes.
The US has the same problem, if not the same urgency.