The Europe Report

"The leaders of France and Germany called forcefully Monday for a new European Union treaty that would automatically punish countries that use the euro if they violate existing limits on overspending."

That would be a big change... even if they manage to ram this through, how long will it last?  "Guys, the ship is sinking," is not a very inspirational principle around which to organize a strong European central government.   

See:  LA Times.