With Greece debt problems shelved for a little while the shock of defaults and PIIGS waiting in line for assistance, the question of the union of the euro is understandably being put to the test.
No doubt sentiment in the few strong countries in the EZ has some agitation toward an exit stage left. It is a political situation that may become quite vocal but I believe Greece will rather quietly slide into default.
And if/when that happens the euro will never become the currency union dreamed of at it's inception. The franc, mark, lire etc might be used internally to appease political moods.
If that happens then it's only a matter of time before the euro becomes a memory. A movement like this could be highly unstable and the authors of fiscal union might come to understand that they were playing with fire.
Spain should be the next EZ member to melt and each bailout seems to build resentment within Europe. Something's gotta give.
