went far more smoothly (I think?).

Nothing major

The EU was created in order to prevent future European armed conflicts. It started out post WWII, morphed through the European Common Market and then into the EU. However I don't think the transformation will be complete until it truly becomes a European nation. As it sits, the situation is analogous to the United States under the Articles of Confederation, little central power, with the various states looking out for their own welfare first. The EU needs to become a federal state with a central government and central bank. Otherwise, if it stays as is it will blow apart.

and central bank. Otherwise, if it stays as is it will blow apart."

Since 1914, the number of countries in the world has steadily increased, rather than decreased.

So cobbling together a United States of Europe was a fools errand, especially as it occurred while the Soviet Union and Yugoslavia were coming apart. Even the Czechs and Slovaks went their separate ways. Russia is making little to no headway in reconsitituting the Soviet Union. Part of Libya's and Iraq'a problems are that both are collections of perviously independent regions.

been a headache since day one.

It would be like California and New York doing nothing for Alabama and Mississippi to promote economic development.

The only possibilities for the Eurozone is to form a federal government capable of regulating all European commerce, or to disband.

But in the process they may have to nationalize their financial systems, ignore Anglo-American accounting standards, and abrogate British Law contracts.

Just how much influence the US had in the creation of the Euro. After all, a currency used by 800 million people is bound to overtake the US Dollar as the reserve currency of choice at some point in the not too distant future. Insuring its failure, or at least delaying its success, would benefit the US.

Most of the work was done well before the Bush Administration and indeed the Euro was exchanged for US$0.75 in 2000. Nobody could have seen coming that the Bush years would devalue the US economy by half against the Eurozone economy.