Think there’s time for 10-year plans to save the euro? A summit disaster could force Monti from office in Italy and lead to the return of Berlusconi and an anti-euro coalition in Rome this fall

The euro debt crisis calendar according to Italy provides yet more evidence that the summit of European leaders that begins tomorrow is make or break for the euro. By this calendar the technocratic government of Mario Monti has only a month to head off early elections that could sweep anti-euro politicians into power in Rome

European heavy-weights propose a solution to the euro debt crisis, but German immediately rejects the plan

The plan from European Union President Herman Van Rompuy, European Central Bank President Marie Draghi, European Commission President Jose Barroso, and Jean-Claude Juncker, head of the euro finance ministers is based on a trade off: In exchange for new joint financial guarantees the plan would give the European Union the power to impose upper limits on annual national budgets and on the debt levels of countries that use the euro.