Fiddling as the euro burns
The Germans believe that "the structure of the eurozone is fine, all you need to do is cure errant behaviour within it," says Philip Whyte, senior research fellow at the CER.
"To me, that doesn't cut it. The structure itself is badly flawed, and to compensate for those flaws they are imposing the policies of the 1930s. The only way the likes of Italy can repay their debts is to grow, but austerity is killing growth and making the problems worse."