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The current euro crisis is simple to explain: when you create a single currency, there are ecomical imbalances inside. That means transfers are needed to cover that gap. European politicians forgot about that cost, and now, when the gap became too wide, they keep fussing about who's going to pay the next months instead of correcting the problem. Any developed country has these kind of transfers in place. But here are two examples that speak of this madness:
USA:
http://krugman.blogs.nytimes.com/2012/06/17/what-a-real-external-bank-bailout-looks-like/
Australia:
http://yanisvaroufakis.eu/2012/06/12/euro-australia-an-instructive-counter-factual/
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