MILAN — Still unlikely, but no longer unthinkable.
The breakup of the euro zone — once the domain of economic theory and euroskeptics — is increasingly becoming a real hypothesis as pressure mounts from the spiraling debt crisis that started in Greece.
Just weeks ago, a breakup scenario suggested the expulsion or departure of fiscal weaklings such as Greece or Portugal that can’t keep their debts from dragging down the group. But now, markets have started to wonder about the big members: Could Germany jump? Is France ready to bolt? More than just a financial tool, the euro has come to be seen as the symbol of European cooperation and harmony, without which today’s Europe would be hard to imagine.
That taboo is suddenly wavering as the debt crisis threatens the EU with economic meltdown. Increasingly, people are asking not only whether a nation could bolt the currency — but whether the euro zone could break up.
