This report provides a comprehensive analysis of the European debt crisis, examining its main forces, consequences, and potential solutions. It explores the increasing household and government debt levels, excessive social welfare spending, and trade imbalances as key contributing factors. The report details the impact of the crisis on various economies, including the downturn in the economy and the decrease in European house prices. It also discusses proposed solutions such as currency devaluation, internal devaluation, debt consolidation, and monetary easing. Furthermore, the report identifies the winners and losers of the crisis and explores measures for preventing similar crises in the future, including collective bond issuance and pre-emption strategies. Finally, it offers insights into the future of the Euro, considering potential scenarios and challenges for the currency and its member states.