Sovereign debtors also knew that them being part of the Eurozone gave them better borrowing rates because creditors perceived Eurozone as low risk. Both the creditors and the debtors believed that they won't chaotically default because of the Eurozone, because that would endanger the Eurozone. If that were all, the creditor and the debtor would be equally at fault. But, when you add the underreporting by the debtor, that's different. Now, I don't see how you can make a case for equal responsibility, and the creditor being more at fault doesn't make any sense to me.