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" Except that Italy is already calling the Euro a calamity for their economy. Greece as well. There's definitely infighting."

This is said mainly for internal purposes by politicians doomed to miss reelection given their mismanagement of the economy (Berlusconi). Those who count (bankers,industrialists) know it's the jokes of politics and don't spare a thought to consider the eventuality.

So we need to get our "current account deficit" under control, do we?

Let's think about some ways to do that:

#1) total up all of our foreign aid, humanitarian aid, food aid, relief aid, emergency aid, development aid, and on and on and on and present the bill to the EU and let them take over those payments.

#2) Let's close all military bases in the EU and Asia and bring those troops back home to support the US economy with their paychecks and the military procurement.

#3) Let's stop shoveling tens of billions into africa's bottomless money pit.

#4) Let's withdraw from the UN, UNESCO, UNICEF, WHO etc., and let the EURO'S take over that cash cow(??)

#5) Let's withdraw from WTO, GATT, NAFTA, CAFTA, World Bank, IMF and all these other parasitical agencies on the American Economy.

#6) Let's institute a tarrif system that ensures that American products are not locked out of overseas markets due to unreasonable tarrifs.

#7) Let's PENALIZE companies that send jobs that were once held by American's overseas to save a few bucks.

#8) Let's crack down HEAVILY on foreigners who priate American products, software, CD's, and the like that drain the American economy.

Let's let the EU take over all of these parasitical, wealth-draining processes. We can funnel all of that money to the American debt and reduce it remarkably in the next 5-10 years.

Problem solved.

If you think the world is going to give up the Dollar as the reserve currency in favor of the Euro, you're crazy.

The PEOPLE (not the Politicians) of Europe hate the Euro because they've been lied about it. The Dutch want their Gilder back. They were told that it would maximize their profits but instead, they're finding that their products cost half again as much as they did with the Gilder. Ditto the Lira (for whatever godforsaken reason). Ditto the Mark.

Why in the WORLD would Britain give up the Pound in order to join the Euro?????? So that France, Germany, Italy and the other moribund, DYING economies of Europe can parasitize the only stable "anglo-saxon based" economy left in Europe????

Yeah, right. Come back when you're sober!

I tend to support Mark Steyn's observation that the EU seems to think that if you combine enough struggling economies then together they somehow produce one super economy. The whole cannot be greater than the sum of it's parts and, on the whole, European countries are in a high unemployment, rising social costs, low productivity, high Moslem immigration rate death spiral.