I've read a shit-ton of geopolitical and macroeconomics texts. Not a one of them regards the Eurozone as anything other than an ephemeral flash-in-the-pan from a time when politics trumped economics. There is every reason for governments to want to band together for common bargaining power and zero reason for citizens to want the same thing. the Greeks have no interest in German-forced austerity and the Germans have no desire to underwrite the spendthrift, lazy Greeks. When Greece goes it'll take Spain and Portugal and then Italy and France will follow. That will be it. More than that, there's no advantage whatsoever to being the last country holding the bag and every advantage to bailing and bailing quickly. The Euro is going to rip apart in a week, the only question is what week. Mauldin figured the Euro would be dead by 2014. he figured this in 2012. He hasn't been right so far, but he also hasn't misjudged the way things would play out.