DislikedIt won't go belly up, the solution is always that the ECB change its stubborn role and gets printing EUR on demand and buys gov debts...
That's what the Fed and Japanese Central Bank do... (Japan is 200% Debt to GDP, far worse than any EZ country). When in need of buyers for some debt/deficit, call the FED.
So, either they solve it now, or ECB will have to solve it in 5minutes, becoming lender of last resort...Ignored
Call it Quantitative Easing, QE, increase liquidity, or inflation of currency. All it does is sugar coat a bitter ending. We need actionable, useful reform that delivers actual results. All QE will do is cause a fixed income bubble by rising the price and lowering the yield, US 10-yr 1.6% and the Bund is lower than that. Economists are uncertain additional QE would help the US significantly. Additionally, what would the US pay for the debts with? Its basically Monopoly money at this point. They will borrow and borrow some more increasing the deficit. Maybe it will help the EZ for a few months.