The whole euro crisis is manufactured and draws away attention from the equally bad economic troubles of the USA.

With all the talk of austerity and economic reform being forced on european countries there is one solution that either has not yet occured to the politicians or it has and it is carefully not talked about so as not to draw attention to the elephant in the room.

Almost all of the debts owed by european countries are to other european countries. In other words they are in an ideal position to default as a economic block. The european commision could simply say that it stops paying back their loans to countries outside the euro zone.
And in fact, they do not even have to go so far as actually do so. All they need to do is make clear in no uncertain terms that an attempt to speculate against one european country is against all countries and that driving one country into default will mean all european countries shall follow suit.
This spectre is pretty much the only thing that is keeping those speculators from betting against individual american states as well. It would be easy enough to hike up the interest rates demanded of the state and counties of, say, alabama by a factor 3. Except that the federal government would allow that state to lend at the same rate as the rest of the states regardless. Mind, with a 15 trillion and climbing debt the USA can afford to do so less than it thinks, unless it wants to risk massive inflation down the line, but it makes the USA a less attractive target than individual european countries.

And should the eurozone decide to close ranks against speculators that is where things will get really ugly for the banksters. After all they have 600000 trillion dollars with nowhere to go in that case.