Politicians of the European states are concern about the importance to preserve the euro, therefore a lot of effort is made by the states to keep up the euro. To preserve the euro countries must base their economy on: Austerity and pretence, and should be able to make any necessary cut in budget deficits and spending costs.
Italy and Spain are in a similar situation in the actual crisis, both are under attack because inverstors fret that they way be forced to default. But also these two countries are defined as solvent but short of liquidity.
To end up with the crisis Europe, should make a real judgement of which countries are in one side of the line and which are in the other in terms of solvent, liquidity, high risk of crash...etc.
After that and finally, countries mentioned before will have to renewed programme of structural reform and liberalisation. Freeing up services and professions, privatising companies, cutting bureaucracy and delaying retirement will make growth happen.
As we all know the actual european economy is not in its best years, unfortunately european countries are suffering a very strong economic crisis and therefore it is needed to adopt strong measures as we have mentioned. These measures will contribute to begin a new era of growth and prosperity.
http://www.economist.com/node/21529049
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