E UROPE is staring into the economic abyss like never before.
It faces the prospect of the entire common currency project coming apart with not only Greece but also other struggling economies such as Spain, Portugal, Ireland and Italy leaving too.
Stock markets have plummeted, along with the euro and the sovereign bonds of Greece, Spain and Italy. Talk has turned to bank runs as Greeks withdrew €3 billion in just 10 days as citizens feared a return of the drachma. These withdrawals alone threaten to make a Greek euro departure a reality.
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