However, the enthusiasm for the euro could wane if skittish capital markets push the spread of Italian risk premiums over Germany to even higher levels.

FORBES: Europe's Strikers Make G-20 Protesters Look Like Sissies

By unifying 11 currencies into the euro and opening Europe's capital markets, the Europeans have given themselves another problem.

FORBES: Euroflop

Regulators in Brussels are moving ahead with draft proposals to build a euro bond issuance warehouse from which euro-area governments can tap capital markets by issuing what would be bonds deemed safer by investors.

FORBES: The Yen's Big Move