The current economic situation in the European Union is critical due to the financial crisis and to sovereign debt. There are a few countries at risk of default, but the most immediate risk is posed by Greece and Italy. The Euro currency is threatened and the EU must take correct measures to prevent it from disappearing.There are quite a few approaches that governments take and each of them has risks and benefits. This paper presents the various suggestions of combinations of measures possible. The matter analyzed being very complex, and trying to simplify it, the paper presents a series of approaches possible in solving the problems that are afflicting the banking system and the EU countries.