A Euro Breakup: Cardiac Arrest for Europe

Three years into the protracted Eurocrisis “all choices are ugly,” as former British prime minister Tony Blair comments. Indeed, the high cost of bad options is prompting some to question whether Europe is worth saving the euro. Along with Tony Blair, the former Italian prime minister Romano Prodi as well as two of the best financial minds around—Nouriel Roubini and Mohamed el‐Erian—warn of the dire consequences of a euro breakup. One of France's most prominent philosophers, André Glucksmann, wonders whether the idea of a united Europe—a reaction to the horrors of World War II—can hold everyone together in the future when peace is the norm.