The Euro has just bought another twelve weeks life in its present form at the cost of a further €100bn bail-out to Greece. The Germans and French will take on much of this CCC-rated junk debt, knowing not only that there isn't a hope in Hell of getting their full whack back, but that when the fall comes (as it will) their own banks will be first against the wall. The slow death of the Euro is one of the most protracted suicides in history.
Our masters in Brussels would rather see the entire European economy stagnate and economic activity shrink to a dribble before they'll surrender, but the truth apparent to all is that no nation will be able to grow and flourish again whilst the cancer of debt repayment gnaws at its back. Default is the only realistic option for Greece, Ireland, Portugal, perhaps even Spain, perhaps even us. The banks will howl and whinge as they collapse, but we can come through it.
C'mon. It's time to take the hit and get on with it.