What Happens if Euro Fails?

If the Euro fails (which is getting more likely with each passing week), what would be the outcome?

Here is a great article by David Brooks in the New York Times.  The article is titled,

THE TECHNOCRATIC NIGHTMARE

During the first half of the 1990s, I lived in Brussels and wrote about the European Union, among other subjects, for The Wall Street Journal. This was the heyday of European integration. Helmut Kohl, François Mitterrand and Jacques Delors were in power, negotiating the Maastricht Treaty and organizing the common currency.
       
There was a lot of excitement among the civil servants who saw themselves as the architects of a new Europe. But there were some oddities.

The European leaders would come together for a summit and issue a joint communiqué. But then if you sampled the coverage in each of the national medias, you felt as though you were reading about 12 entirely different events.

Europe was unifying legalistically and economically, but there was no common language or common conversation. At one meeting, leaders embraced “federalism,” but that word meant one thing in Britain and another thing in Germany.

But now the inherent flaws are undermining the project. The nations of Europe have been running different kinds of economies and different kinds of democracies, reflecting their diverse histories, values and cultures. If you jam diverse economic cultures into a single currency, you’re bound to get an explosion.  

And the final curse is that while building Europe in this way was a mistake, Europeans cannot now simply reverse course. If the euro was immediately dissolved, the Deutschmark would surge, nearly every other currency would plummet and the imbalances would create a global catastrophe.

In the short term, the European Central Bank, the stable European nations and even the U.S. will have to take extremely big and painful action to stabilize the situation. But, after that, it’ll be a time for chastening. It’ll be time to discard the technocratic mind-set that created this inherently flawed architecture and build a Europe that reflects the organic realities of those diverse societies.   

See it here;  http://www.nytimes.com/2011/11/18/opinion/brooks-the-technocratic-nightmare.html

I think it interesting how he uses the phrase, "the final curse" when describing how the Europeans can't simply reverse course.  It makes me wonder if that curse is coming because Europe has cursed Israel?  He says that if the Euro dissolved it would create a "global catastrophe".  And next he says that even the USA will have to take a big and painful step to stabilize the Euro.....wow.....WHERE WILL WE GET THAT MONEY?? 

Friends...with all that is going on in the world and with the Muslims on the warpath and the Chinese and Russians jockeying for new control of the world while holding it's purse strings.....do we really have the gumption, the where-with-all and time to rebuild Europe?  

To me, this is simply one more situation on planet earth where the facts are UNSUSTAINABLE.  Euro Land is going to come apart....we don't know exactly when, but it will come apart. 

More evidence that a NEW GLOBAL CURRENCY is on the horizon.