AmericanPride,

You state two matters I will take issue with:

1) The European states are still firmly loyal to the American global system...

2) Already Greece and Italy are required to impose stiff austerity packages and I'm sure we will see the continued destruction of national sovereignty by necessity.
Re: 1) There are many aspects to this 'system' and some of the changes are being made by the USA, notably a shift to the Pacific. Then there is the ex-UK Prime Minister John major making one of his rare forays into public policy:http://www.telegraph.co.uk/news/poli...ationship.html

And 2) There is a view that the technocrats in the national banks, international finance and EU institutions created the problem, so they are hardly the best choice to find a solution.

Nor should we overlook the apparently dominant role of Germany in the various "rescue" packages, the imagery of "bankers from Berlin" supervising national economies could set off a fuse in Greece and Italy.