Well, Europe have sort of sorted out the Greek Debt Crisis (if we are lucky). This link gives access to an interesting article on the subject (and why the Euro came to these sorry straights!).
Over the other side of the pond it would seem (from this distance) that people are playing politics with a debt crisis that is so serious that it should be above politics. Of course the comments of one of our cabinet ministers will just stir everything up. What they should remember is that a US default will foul up China's economy as they hold so much US debt. If the US and China go, we all go.
See Also: http://deadmanchatting.blogspot.com/2011/07/germany-greek-bailout-ii.html