There is no doubt that the eurozone could survive the financial difficulties of its smaller countries.
If Germany were willing, it could afford to bear the cost of Greece and Portugal defaulting on their loans, thereby saving the euro. The same is true for bailing out Ireland.
However, the European financial crisis has now spread to Italy, which is a big economy. No doubt the Germans could raise the money to bail out Italy, but the burden on the German economy would be far too great.
Read more: http://www.dailymail.co.uk/debate/article-2015428/The-eurozone-choice-Split-die.html#ixzz1STf7GVbn
