What is the Eurozone crisis?

You have a few grasshoppers looking for a lot of ants.

When those grasshoppers and their bureaucrats throw in words like debt, sovereignty, Euro, ECB, crisis, default, system collapse and so forth they hope to confuse and scare some ants, or their bureaucratic queens, into giving up some of their winter food stores.

Invariably some of these ants start thinking that if the grasshoppers stop singing and start working on building their own food stores for the winter, that the the ants may somehow be putting their own food stores at risk.