Brad DeLong on the Euro Crisis

Brad is terrified:

When I came to his piece I was terrified about the economic future of Europe: I had moderated a panel composed of Barry Eichengreen and Wolfgang Munchau last month in Rio de Janiero that had made me want to hide under the table and not want to come out.
I hoped Bergsten's piece would restore my equilibrium.
But Bergsten's attempt to convince me to worry less and be happier failed: "if this is the strongest argument for optimism he can come up with..." I found myself thinking. The key problem is that Bergsten has an unusual definition of "resolve". So now I am hiding under the table, and so blogging from my iPad.