I was on a business trip in Europe two weeks ago and my Italian colleague who was with me on the trip was so frustrated about the miserable economic situation in Italy...He told me that he pays 46% of his income in taxes plus he pays another 21% in VAT (Sales tax)...He said that the worst thing that happened to Italy and most EU countries is the EURO...
I understand his frustration with the EURO. By making a single economic solution throughout Europe, instead of having individual financial systems - the lowest performing member would bring all of Europe down.
Sort of like putting 50 people in an inflatable lifeboat in the middle of the ocean, and passing out pocketknives. Most everyone will take the pocketknife and put it in their pocket until needed - but some idiot is going to carve his initials in the side of the boat. I believe Greeks like carving initials in boats.