The euro may be riskier than you think - Alasdair MacLeod

`` Varoufakis almost certainly understands that the Eurozone is in a weaker position than the bureaucrats and finance ministers themselves believed. It was important for them to become aware of this reality, which was central to his approach. It appears that under the Lisbon Treaty, Eurozone states cannot expel Greece: she can only leave with everyone's unanimous agreement, including her own. And they probably didn't realise that playing hardball against Greece would force the ECB to write off debts approaching ten times her equity capital of only €10.8bn... In the wake of this episode the status of the euro as money is likely to be increasingly questioned, not just in the foreign exchanges, but by its users as well. ''