Most economists, in fact, any serious observer of the situation, says there will be no solution without a major reduction in the debt of the governments in trouble, particularly Greece.

BBC: The IMF and Madame Managing Director

The problem is that public opinion - particularly in Germany - has hardened against further aid for Greece or elsewhere.

BBC: Fear in Europe as eurozone crisis deepens

Particularly in the private sector there are those who say that Greece's future prosperity depends on shrinking a bloated public sector.

BBC: Greeks ask: Why all the suffering?

With Greece threatening to collapse, as Finance Minister Evangelos Venizelos has made clear, European banks, particularly in France, have begun stockpiling dollars, putting upward pressure on the currency. (Read Roubini: Greece Should Default, Leave The Euro And Reinstate The Drachma).

FORBES: Gold Gets Slaughtered! Understocked, Bullish Investors Wait For Entry Point

In particular, attention has returned to sovereign credit risk, particularly in the eurozone and its periphery, where weaker countries, like Greece and the more indebted of the Central and Eastern European countries, are under pressure.

FORBES: Doctor Doom

For other economies in Europe, particularly those on the struggling fringes such as Spain and Greece, euro strength threatens to negate their efforts to make their economies more competitive.

WSJ: Euro's Recovery Not Without Pain for Some

Business as usual Having read your " Athens at the crossroads", I was particularly amused by the comments about black bags' helping to generate improper business dealings in Greece.

FORBES: Readers Say

The debate is particularly intense in Germany, the eurozone's main paymaster, where allies of Angela Merkel have openly called for Greece to go.

BBC: Greek leaders battle for euro survival