You know you're in trouble when

your Presidents confess that the euro was a bad idea imposed on the EU by a Franco-German cabal. I am surprised that Barosso doesn't mention that the Germans didn't want it either. (and Van Rompuy isn't crazy; 1992 refers to the Maastricht Treaty).

Herman Van Rompuy, President of the European Council, the body that brings together EU leaders in summits, ... confessed that the euro had been flawed from the moment of its creation in 1992, a situation that had not been made clear to voters.

José Manuel Barroso, the Commission President, has criticised Mrs Merkel for not taking on opponents to the euro bailouts "Until now Germany has been one of the big winners from the euro. More politicians in Germany should say that clearly," he told the Frankfurter Allgemeine Zeitung. "It was not Greece, Ireland or Spain who invented the euro. It was a German-French project."