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Well, those 17 countries in the eurozone are united by the currency but divided by different ideas when it comes to managing their finances. 

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So, how did we get to this point? 

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Well, CNN's Jim Boulden looks back at how the cracks started to show in the euro.

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It's easy to visualize Europe. Just show a horde of euro coins being minted. 

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It is, after all, the very symbol of unity for the 17 countries that share one currency.

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So why, then, is the same currency tearing at the very fabric of the eurozone?

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Euro skeptic Norman Lamont has always said the euro was a mistake.

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You see, when the euro was set up, a lot of people said, well, it's very good, you have a currency without a government. 

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That's a plus part... a plus point, not a minus point. But, actually, it's turned out to be a minus point because no one is in charge.

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The euro did come with its own central bank, 

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based in Frankfurt to placate a German citizenry giving up their beloved, strong and stable deutsche mark. 

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But the euro meant monetary union, not fiscal union. 

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Each country retained [its] own tax policies, budgets, banks, finance ministers, etc. 

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And each country sells bonds.

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Greek bonds always gave a little more back to investors, who happily bought them up, allowing Greece to happily increase its debt. 

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After all, Greece shared the same currency as the Germans and certainly couldn't go bust.

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Not true. 

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Once the economic crisis hit in 2008, the euro cracks started to appear. And Europe's politicians are still trying to find the patch.

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That has taken too much time. It will take a bit more time. 

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Fortunately, the European Central Bank has given us more time by intervening on the Italian and Spanish bond markets, 

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providing a kind of protective shield while we can take the... while the political process can work to bring about the decisions that are necessary.

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And it's clear time is running out.

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This is a crossroad for Europe, and there are some very heavy political decisions that will have a long impact that will have to be made.

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It appears Europe has a stark choice: change the rules and let countries leave the euro or go the whole way and create a fiscal union. 

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In other words, one big budget, or at least a budget czar of sorts that could veto spending in any country.

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I think there are two alternatives. They are, bluntly put, cough up or break up.

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Clearly, muddling through is not an alternative.