Saving euro is the only game in town

ONCE again, from a British perspective, the Channel is fogbound and the Continent is isolated.

For the rest of us — 17 eurozone countries and nine other EU member states — it may not be too optimistic to hope that the fog might lift or at least lift enough to allow us steer a passage to dry land.

Yesterday morning’s decision by 26 EU countries to immediately work together to draft an intergovernmental treaty for deeper fiscal union to try to resolve or at least manage Europe’s sovereign debt crisis is not by any means the end of our difficulties.