What are the main causes for the European debt crisis?

Can someone please explain to me what caused the european debt crisis and give me a simplified summary of whats been happening with the crisis so far?|||1. The Europeans tied the currency to each other and their debt, domino theory. 2. the British wisely avoided this 3. the EU thought they had an ace with the IMF in terms of enforcing tariffs against other nations importation of goods, but without new technology and manufacturing the EU countries are not creating jobs.4. Many countries like Portugal, Spain have to pay for their parents retirement before they can even create one for themselves.6. Only Germany did well and France somewhat because Germany for many years dealt w/ the US in manufacturing and learn how to create and keep jobs, France has wisely sought to be involved in many German projects.7. All these countries live on tourism.

There is a lesson in there about our manufacturing, if we do not manufacture we will not create jobs, if we let corporation manufacture offshore then why let them import in without huge taxation.|||Socialism. Crisis is what happens when you run out of other people's money to give to other people.|||http://en.wikipedia.org/wiki/European_de鈥?/a>|||To much government and universal health care