The end of the euro would be the end of Europe - only tough collective action from eurozone leaders can prevent financial meltdown. But do political leaders fully realise the enormous scale of what is required and the frightening consequence of failure, and that intense financial and economic pressures are forcing far-reaching political changes in the eurozone? This searching and timely new study examines the driving forces and potential outcomes of the eurozone debt crisis. In early 2011, the eurozone debt crisis looks likely to take a dramatic turn for the worse - raising the intensity of the search for enduring solutions as the markets now price six states as 'risky'. The eurozone leaders have collectively affirmed "that they stand ready to do whatever is required to ensure the stability of the euro area as a whole. The euro is and will remain a central part of European integration." Chancellor Merkel of Germany and President Sarkozy of France also sent New Year messages to...

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