The Eurozone bad bets: a beginner guide to the Eurozone crisis

He argues that the Eurozone experiment has rested on a series of big economic and political bets, and that it’s now clear that almost none of them have paid off.  European Monetary Union is no longer sustainable in its current incarnation.  The Eurozone’s long-term future therefore depends on whether Europeans are able to deliver the institutions needed to make the currency union work.