"Scam" implies willful deceit. I don't think the European elite really knew what an embarassing mess the Euro would turn out to be.

1. Converting government funding from guaranteed to inherently unserviceable

Isn't this a positive thing? By removing from the hands of the governments the ability to print money, governments are forced to become accountable. Had the USA been held accountable by a common monetary policy, it wouldn't have been able to increase its debt many-folds and use the proceeds to wage war in the middle east.