Regardless of the amount of difficulty involved, the big four emerging markets plus South Africa said earlier this week they were considering setting up a foreign-exchange reserve pool and a currency-swap arrangement in an effort to avoid any credit crisis stemming from the advanced economies.
There, according to the Chinese Foreign Ministry, the leaders discussed the currency swap and foreign-exchange reserve pool ideas with their Russian, Indian and Brazilian peers.
It is precisely what Mr Market is saying to the eurozone's governments if they wish their currency union to survive - namely that they have to pool their financial resources, and cede a degree of autonomous control over taxing and spending, to save the euro.