5 ways to save Europe

Europe is in crisis, and the fallout from its fast-approaching financial meltdown would hurt the U.S., too. Is a Fed bailout the answer?

European Central Bank President Mario Draghihi: Some analysts say the Central Bank should flood the market with money to ease the continent's financial crisis.
(Image credit: Marc Tirl/dpa/Corbis)

Debt-addled Europe is leading the world toward a devastating financial meltdown that could be much worse than the frightening 2008 financial crisis, says The Economist. Until recently, most observers presumed that European leaders would deal with their debt crisis and do whatever it took to save the continent's common currency, the euro, "because the consequences of the euro's destruction are so catastrophic that no sensible policymaker could stand by and let it happen." But august financial analysts are now giving Europe about a week to get its house in order — and many don't sound too hopeful. What could Europe do to prevent its looming catastrophe? Here, five ideas:

1. Issue eurobonds

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