The unfortunate fact is that the European common currency, euro, has been an ill-conceived project from the beginning. If the history of previous failed currency unions teaches us one thing, it’s that you never ever establish a common currency among countries with very different cultural and political backgrounds without a Federation. It’s unfathomable that we need to learn this lesson the hard way, again!
My bigger fear is they'll use this crisis to create said Federation. EU member states are currently all drawing their own plans, closing borders as they please, while EU is grasping to remain relevant.
Losing euro will be expensive, but it's probably for the best in the long run. Unless you work at ECB of course, then you'll do
whatever it takes to
keep your job rescue the euro.
in this current situation the uk will be in the most comfortable position - still holding on with some EU connections, but whole country is ready to take a break from the union like 'til the end of the year (and does not depend on euro)