Both are a sign of tensions. Europe’s future hinges crucially on how the countries resolve those tensions. Facing up to competition among the countries and regions and promoting competition, more market, and more flexibility within the countries is the relatively long-term solution which fits a denationalised currency.
And, for the participating countries, that means facing the associated new economic and political challenges and accepting political limitations. Monetary stability is not a substitute for the right solutions. But it is the basis for them, and promotes orientation towards the future. Keeping the euro enduringly stable is one of the major future tasks for Europe.