There’s “too big to fail”, and then the next step after that is “too big to bail out”. Personally, I think we passed the former 4 years ago and we’re now into the latter. All the talk is just that – talk. Unless we’re looking for a U.S. dollar trading at parity with the Mexican peso this problem is too big to simply devalue away.
Don’t forget, price correction via inflation makes everything else more expensive too. Loss of value is loss of value no matter how you look at it.