During the euro crisis in 2012, a Greek exit from the euro was the fear. Today, an Italian exit is the worry.
All along, contrarians have called for Germany to leave the eurozone, observing that the currency union’s central problem is a severe imbalance, with Germany so much larger, so much more robust economically and so much more export-driven than all others. Remove it and the zone’s problems would disappear.
Today, this contrarian idea is even more compelling.