Debt crisis unsettles European economy.

The problem ,apart from financial solutions, needs political Will of the EU as the economies of the EU countries are interlinked and the fact is that some Nations like France, Germany have to bear the cost of PIIGS(Potugal,Italy,Ireland,Greece,and Spain).Let’s see how artificial Union stands up?
Story:
Governments in Athens, Madrid and Lisbon struggled on Friday to quell fears of a looming debt crisis in Europe that is pummeling the euro and rippling across global markets, as authorities vowed to impose fiscal austerity and plug their yawning budget deficits. The problem, however, is that investors don’t appear to believe them.
http://www.washingtonpost.com/wp-dyn/content/article/2010/02/05/AR2010020504411.html?hpid=topnews