I think you are offering a good overview. In my humble opinion the British veto was in some ways unique. We have already had a couple of states using this card but never in such a situation and never against such political pressure, with one country so completely isolated. Remaing alone in among 27 member states is quite a feat of diplomancy.

Europe alone would have the (private) money to handle to crises on the bond market, the big problem is the lack of trust of potential private investors and the persons handling that money in certain economies and states. The fligth of Greek capital is just the worst instance of it.

During the Euro years a massive amount of captial, sometimes luring also considerable amounts of people, from the core of Europe, especially Germany flew into the countries with a better economic future and bigger captial gains at a just moderatly higher risk. This caused a lack of investment in, once again especially in Germany and meant painful reforms and a (relative) loss of income for the workers.

So the current adjustment after a phase of very cheap and plentiful credit is especially for former boom countries. Sadly the political freedom to follow Mr. Keynes is perceived to be almost non-existent although it was used considerably to lessen the impact of the 2008 crisis. Personally I would like the see an aggressive policy by the central bank. Even if monetary policy alone will not solve the crisis, it can not miss.