The eurozone will not break up. The price of departure is simply too great for any one country. Indeed, when Mario Draghi announced on 6 September that the European Central Bank would undertake unlimited purchases of government bonds, the continent crossed the bridge to its future.
Austerity has made it difficult for Greece to meet its fiscal targets, as well as its structural reforms. This is why anything short of debt forgiveness and more bailout funds is only a way for Europe to buy a little bit of time but at a huge price.
Symbolically, the Oslo ceremonies are an historical turning point for Europe. By recognizing the European Union's peacemaking past, the Nobel Prize challenges Europe to escape once and for all the destructive pull of narrow national interests and passions.
David Cameron suggested the European Union headquarters in Brussels "continues to exist as if in a parallel universe," in part because its idea of austerity is to increase the workweek from 37.5 hours to 40. How can we possibly make sense of all this?
"This was clear from the beginning, and it remains clear. It is up to Greece and its Europeans partners to decide how to structure and spread over time this default."
Who cares about why and how Greece entered the eurozone? Who cares about state accountants tip-tapping on Excel fifteen years ago? Does this discussion make tomorrow's solutions more likely?
Workers across southern Europe took to the streets last week to protest the region's growing unemployment and government spending cuts.
No one is forcing us to follow the dictates of our own homegrown versions of Merkel, although there are plenty of them around, including in Congress, who are as adamant, powerful and potentially obstructive as she is.
While serious questions remain over the cost of obtaining money for Ireland when that moment arrives, the sheer fact that Ireland can now talk about leaving behind its official lenders is highly significant, and not just in Ireland, but further afield.
Who wins tomorrow's various elections matters, but whether the collective victors can work with one another to address our nation's most pressing problems matters even more.
Public debt has become the main argument against the welfare state. But the two are barely related.
It's not just the European economy that is in crisis. The very idea of Europe has lost its shine. "Europe" once meant a more egalitarian and more tolerant model than the free market orthodoxy reigning in the United States.
In the age of globalization, when Europe gets the flu it is impossible for American corporations not to catch a cold. The euro crisis is now turning into a full-fledged European recession and it is causing a direct hit on American companies.
Is it likely that the Dow Jones Industrial Average is flirting with five-year highs right before we are about to go into recession? The answer is obviously no, but there is another factor that has been introduced into the equation.
Greece, widely regarding the starting point of European civilization, is now at the forefront of protecting its wildlife. The future of the euro is not the only thing hanging in the balance should Greece go under.
If I had to bet on the winner, I'd choose London as the best place to start a business in Europe, as the conditions for entrepreneurs are similar to those found in U.S. startup hubs like the Silicon Valley or NYC.