The inability of Europeans to rise above petty national concerns, whether over who pays for bail-outs or who controls bank supervision, has prevented them from making the big compromises necessary to secure the single currency’s future.
That’s a pretty awful sentence.
“National concerns”: petty.
A country’s taxpayers wanting to decide how their money is spent: petty
A nation wanting to regulate its own banks: petty.
Why the single currency’s future should be “secured”: unexplained.