Talks about the eurozone breakup and the consequent abolition of the single European currency have first started back in 1998 when the eurozone was formally formed. Since late 2009, the Greek debt crisis spurred new discussions about the ability of the European monetary union to survive. For many Forex traders, the eurozone’s failure seems imminent. According to them, the probable withdrawal of Greece will be a symbolical event that will trigger a real disaster for the union and the euro. Personally, I believe that, while Greece is very likely to leave the eurozone, the euro itself will remain almost unaffected by such an event. To me, it seems very unlikely for the whole monetary union to break up just because one of its members has failed. As for the Greece, I am pretty sure that the worst is already priced in in the EUR/USD rate. And how about you?
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