Other countries outside the euro area are also indebted. Great Britain, Denmark, Sweden … And other countries outside of Europe also are in debt like Canada, Ukraine, India.The dollar currency system led the allied countries to follow the model of consumerism of the United States through the use of the printing presses that led to the debt problems we have today.
The euro will certainly help if the construction of a true European Fund is confirmed to borrow more because more pooling of debt. Also because Euro zone countries taken together are still much less indebted than the US. However, at the end, European countries will have to pay its debt or default.But again we must look beyond that the main stream opinion that Euro is the cause the of all evil. The Euro is a failed attempt due to harmonize european countries policies. But doing so, europeans founding fathers have ignored the obvious. An economic union do not lead to a political union.