How would the burning of private bondholders to the tune of €140 billion have affected the Euro currency?
> you don't ultimately control your own affairs you share them with the others who use that currency
The currency had nothing to do with it. The only thing which would have absolutely forced them to stand over it would have been existing EU law - which there was none.
The European Central Bank can't legally stop issuing currency to Ireland just because some French or German banks got burnt.