The Online English Edition of Der Spiegel has a brilliant analysis of the European debt crisis that is not to be missed.

Read “The Ticking Euro Bomb” (October 5-7, no rx 2011):

Act I:

Part 1, advice Section 1:  “How a good idea became a tragedy”:  http://www.spiegel.de/international/europe/0,1518,790138,00.html

Part 1, Section 2:  “The Greeks jump at the opportunity”: http://www.spiegel.de/international/europe/0,1518,790138-2,00.html

Part 1, Section 3:  “The critics of the Euro”: http://www.spiegel.de/international/europe/0,1518,790138-3,00.html

Act II:  Life with the Euro (2001 – 2008):

Part 2, Section 1: “How the Euro Zone ignored its own rules”:

http://www.spiegel.de/international/europe/0,1518,790333,00.html

Part 2, Section 2:  “The Greek deception is discovered”: http://www.spiegel.de/international/europe/0,1518,790333-2,00.html

Act III:

Part 3, Section 1:  What options are left for the common currency? http://www.spiegel.de/international/europe/0,1518,790568,00.html

Part 3, Section 2:  Greece adrift http://www.spiegel.de/international/europe/0,1518,790568-2,00.html

Part 3, Section 3:  Design defects, political weakness, public disinterest http://www.spiegel.de/international/europe/0,1518,790568-3,00.html

Part 3, Section 4:  Are European rescue efforts doomed to fail? http://www.spiegel.de/international/europe/0,1518,790568-4,00.html