The deepening economic crisis in Europe can be attributed to ignorance and the increasingly unbalanced concentration of the power to make critical decisions.
Southeast Asia should guard against a potentially dangerous spillover from the Eurozone crisis by trimming sovereign debt and reigning in spending.
The gap between the efforts to deepen integration in order to save the euro and what most people really think should happen is wider than it has ever been before.
Neither Spain nor Italy seems well positioned for sustainable export-led growth. Without a commitment to domestic reforms that restore competitiveness, both countries risk a long period of stagnation, if not a plunge into crisis.
Spain had a stronger fiscal position and healthier bank balance sheets than many of its peers when the crisis began, but it still may end up having to leave the euro and restructure its external debt.
With European voters voicing their frustration at harsh austerity measures, economic fears are back in the eurozone and any respite from government and central bank intervention appears to be fading.
The new government, whatever its composition, is sure to have a very difficult task in front of it--keeping Greece in the eurozone while mollifying a people exhausted by the nation's fifth year of recession.
Europe's periphery is finding itself at a crossroads similar to the one Argentina and Latvia faced in the last decade. But a decision to exit or stay in the eurozone will have much more far-reaching consequences.
Neither candidate in France's presidential election has addressed the growth and competitiveness issues underlying the country's economic problems. But failing to grapple with them could be ominous for the entire eurozone.
While the commotion over bond spreads is justified, it diverts attention from the main arena where the survival of the euro will ultimately be decided: the realignment of Europe's peripheral economies toward exports and import substitutes.