Even as the eurozone fights to unite at a national level, the strains of the crisis are showing up further down the political chain. In Spain, Catalonia's declaration of early elections, to be held November 25, is the latest vivid example of the struggle over who should pay the costs of the financial crisis.

While the vote is being painted as a poll on Catalan independence, that seems an unlikely outcome. But Catalonia does want greater fiscal powers. Meanwhile, Spain itself faces a fight to retain control over its own fiscal future, as pressure mounts for it to seek a eurozone bailout.