The European Union is a lot less cohesive than this map suggests, with Italy being the latest and largest crisis catalyst.
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This NY Times Editorial makes a good a good diagnosis of the Italian debt problems, goes through all the options to fix them within the EU framework and correctly rejects them as unworkable. But the final 'offer (of) something positive in exchange, such as a common European investment and growth strategy' (basically the former Greek Finance Minister Yanis Varoufakis' solution too), falls short too, politically & economically. Monetary sovereignty may be the only solution, and political sovereignty may be the only way to get to that if the bank-dominated EU won't cooperate.