Had the UK been in the euro we’d have been bailing out the broken southern european ecomomies as well, and soon joining them…
As for the rate cut, it’s panicked desperation. The eurozone is sliding back into the recession it had barely clawed it’s way back out of, and now the next ripples of the Crash of ’08 are in train to hit us. No it wasn’t ‘solved’, it can never be ‘solved’; far from being over and done it has only just begun…