David Frum says the European financial crisis is not about debt , it 's about currency . He says some countries unable to borrow in euros with limits set by European Central Bank . Their escape hatch : Quit the euro . Comment: That limit is imposed not by markets , but by the European Central Bank . Frum : U.S. financial portfolios could suffer because of how world financial institutions work .
David Frum says the European financial crisis is not about debt , it 's about currency . He says some countries unable to borrow in euros with limits set by European Central Bank . Their escape hatch : Quit the euro . Comment: Frum : U.S. financial portfolios could suffer because of how world financial institutions work .