NEuro

I suppose you see what I was getting at.

Yes, the logic is simple. If you join an organization and find that one of the members is not behaving, it is perfectly alright to propose sacking that delinquent person. However, when all of the others are not following the rule of the game, it is logical to withdraw and keep your hands clean.

In that case, Euro should depreciate and the PIGS could begin to solve their own problems.

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Well, I agree not all the other countries in the Eurozone are heavily in debt. Finland and Netherlands are the notable exceptions - they should quit as well.

If they decide to form a new common currency, shall we call it NEuro? (A new Euro, a new Ro, or Neuro - whatever meaning you prefer.)

Alas, I'm afraid the remaining countries in the Eurozone should call their currency Psycho...

... of Alfred Hitchcock?