Why should we in Australia care? Well, many of us have friends and family in Europe. That is reason enough. Many of us also care about reason and democracy.
Another key reason is that Europe is China’s biggest market. If the Euro collapses, as now seems almost inevitable, Europe’s buying power will also collapse. China’s exports will crash, and China will stop buying Australian coal and iron ore. Australia not in good financial straits now, thanks to the most incompetent government in its history. It will soon be worse, thanks to the EU.