Risk premiums widened, and the eurozone was divided into creditor and debtor countries.

The dangers of a centralizing approach can also be seen in the relationship between the 17 current eurozone members and the 11 non eurozone EU states.

Indeed, Japan s debt is now roughly 230 of GDP, higher than that of Greece (175 of GDP) and nearly twice that of Italy (125 of GDP).

The Maastricht treaty explicitly prohibits a eurozone country from leaving the euro, but says nothing about a temporary leave of absence (and therefore doesn t prohibit one).

How could a eurozone supervisor be based outside the eurozone?

Scotching the Eurozone

The Eurozone s False Recovery

Poland s Eurozone Tests

A Survival Strategy for the Eurozone

Growing Up in the Eurozone

Judgment Day for the Eurozone

The Eurozone s Autumn Hangover

The Eurozone s Last Stand

Indeed, even if the eurozone breaks up, each European country could adopt a different currency but retain common symbols.

That loss would be borne by eurozone member states in proportion to their share of eurozone GDP, even though the votes are one per country.

The Government the Eurozone Deserves

Demokratisasi di Eurozone

Signs of Life in the Eurozone

Optimizing the Eurozone

The Eurozone s Narrowing Window

Indicators for the eurozone are even worse.

Brady Bonds For the Eurozone

Decision Time for the Eurozone

Democracy versus the Eurozone

The Eurozone s Agenda in 2013

Rebalancing the Eurozone

The Eurozone s Strength in Disunity

A Breach in the Eurozone Dike

The Eurozone s Delayed Reckoning

Three Ways to Save the Eurozone

There is a second solution the exit of Germany from the eurozone or the division of the eurozone into two sub regions.

What should the IMF do if a country wants to leave the eurozone, or if a European country defaults on its debts, as Argentina did?

Eurozone Budgets Under the Spotlight

Alexander Hamilton s Eurozone Tour

Eurozone Chutzpah and the IMF

The eurozone wants it both ways.

Golden Rules for the Eurozone

Suddenly, the eurozone had become a straightjacket.

The Euro Zone s Default Position

But the eurozone is doing the same.

Europe is not identical with the eurozone.

That is where the eurozone is today.

Any country can leave the EU, and thus the eurozone, when the perceived burden of its obligations becomes too onerous.

It has the largest economy, accounting for 28 of eurozone GDP and 25 of the eurozone s population.

Presumably, the eurobonds would be under the control of the eurozone finance ministers.