As the Eurozone affects so many stockmarkets around the world it is a relevant question. The answer is sadly probably not.
The brave decision would have been to allow Greece to default and return to the Drachma thus giving it the opportunity to be a more vibrant and competitive economy with a much lower debt burden. The concentration should have been on ensuring the the banks were well enough funded so that any resulting difficulties could be dealt with.
As we know this did not happen and as a result we see Greece with a massive debt, high unemployment and a severe cut in public spending. The people riot on the streets. The same is occurring in Spain where again unemployment is high and the people are on the streets. Italy, Portugal and Ireland struggle but countries in Northern Europe are stable with a little or moderate growth. Germany might be described as growing strongly.
A 2-speed Europe has thus been created. Sooner or later the "have nots" will rise up against the "haves" and the zone will be plunged into another crises.
Politicians have been known to start wars to maintain or enhance their popularity so we should not be surprised that they cannot take unpopular decisions now.
This situation could obtain for years so from an investing standpoint we should just keep looking for value where we can.