ML-Implode News - How Greece could collapse the eurozone

The problem is not that the eurozone found itself facing serious economic challenges. The issue is its failure to anticipate the risk of such a crisis ever happening, the lack of contingency planning, and the eurozone's inability to deal with the problem on a timely basis. The Greek crisis is now over five years old, with no signs of a permanent solution.
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Favorable treatment for the Greek government risks opening a Pandora's Box of demands from other countries to relax austerity measures. Demands for relaxation of budget deficit and debt level targets are likely from Spain, Portugal, Ireland, Italy, and France.

A write-down of debt would crystallize losses. It might threaten the governments of Spain, Portugal, Italy, Finland, the Netherlands, and Germany. If Greece leaves the euro EURUSD, +0.1342% , then the consequences for the eurozone are unclear. Should Greece prosper outside the single currency, it reduces the attraction of the eurozone for weaker members.

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How Greece could collapse the eurozone - Satyajit Das