I won’t recapitulate my core views on the euro crisis (see this talk), but here are a few points:
1. The aggregate numbers are workable, but the eurozone needs a unified solution of some kind. Putting any single country “in charge” would yield a solution, although the quality of solution would vary with the country. Still, it would be a solution.
2. The danger is that quasi-solutions will appease all countries in the short run, not really solve the core problems, and thereby walk the eurozone further down the plank of doom. This is the outcome I have been predicting, though it is not necessary in any logical sense.