When Will the Eurozone Collapse?

The Adam Smith Institute
"As a long-standing critic of the concept of a single European currency, I have not rejoiced at the current problems in the eurozone that threaten the very survival of the euro. Before discussing the events surrounding the Greek debt crisis further, I must provide at least a working definition of what the word "collapse" means. In the context of the euro, there are at least two interpretations that come to mind. The first one suggests that the eurozone project or the project establishing a common European currency has collapsed already by failing to bring about positive effects that had been expected of it. .....To summarize, the European monetary union is not at risk of being abolished. The price of maintaining it will, however, continue to grow."