I would say the exact opposite
Why? Take Greece or Ireland.
Without much influence on the intern economical policies we are required to bail them out but if there had been a closer observation, a common economical policy, a close cooperation, a common development of industry, of taxes, of labor, a synchronisation of welfare laws etc. the catastrophes could have been avoided.
As it is Germany is asked to bail out without being able to make sure to change the same structural failures which led to the need for the bailout in the first place.
Of course we balk at that! It's like throwing good money out of the window.
With common economical policies these building of the banking-, credit- and housing bubbles would have been avoided!
And what with all that talk about devaluation. It doesn't help your economy in the long run. It's a sign of weakness, of resignation...you can't build a future on devaluation... how often do you plan to do that?
Does that help with your corruption, with your tax fraud, that your main export are olives??? Nooo, of course not!
Devaluation is for an extreme case only and it helps nothing against the real problems. No, it is not possible under the Euro but it is hardly an argument against it.