[BitWielder1]

I'd say it started in the US and spread to the rest of the world, hitting hardest in the countries that were already weakened by having followed the US lead in unsound fiscal practices.
So in a sense he's right, but if you overspend on your credit card, knowing full well that it's wrong, it's a weak argument to simply blame the guy who showed you how to do it.
The Europeans are supposed to be more sophisticated than us simple Yanks, so how do they explain that?

[Vanders9]

Very easily. To the European President (which is a total figurehead position - the man has no power at all. 99% of Europeans wouldnt know who he was) the current crisis HAS to be the fault of the US. If not, then it HAS to be the fault of the Japanese. Or the Chinese. Or the Arabs. Or possibly the Martians.

If none of those people are guilty, then it would have to be the EUROPEANS fault. And it would never do to admit that, would it?

[Owl558]

“...it’s a weak argument to simply blame the guy who showed you how to do it.”

My neighbors credit card debt has nothing to do with me, regardless of how badly I may have managed mine.

And while it may make good politics for Europeans to blame the US, these are structural problems with the European economies that have existed for decades made worse by the adoption of the Euro.

Greece, Spain, Italy, et. all. are not doing anything they haven’t been doing for decades, only this time, because of the Euro, they can’t inflate the problem away.