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There is entirely too much bold text in this article. Anyways, the issue with the Euro is that monetary decisions (how much money to print) are centralized while fiscal decisions (how much money governments spend) are not centralized. In the initial setup of the Euro, Euro countries were required to hold to certain fiscal parameters (limits on debt as portion as GDP, etc). The PIIGS (and Greece in particular) misreported and/or manipulated their numbers to hold within the parameters. Now we're seeing the result of that.
Things like conflict aggregation and self destroying systems don't really explain the issues in the Euro today.