Our beginning of Greece and the EU: http://www.bloomberg.com/news/2011-...-doubles-on-government-deficit-wrangling.html
Who would the US have a debt problem? Greece/etc cannot print. Did someone big shorted the dollar when e/u was at 1.49, or missed going long? Is to the story to give a second chance?
It's a technical game (there's a deliverable bond trading with a low 80s handle) and there's been lots of unfortunate shorts, who sold at completely wrong levels.