2012 : not the end of the World but for many the end of the Euro

Thanks to the Financial Times, I’ve found this apocalyptic report about the Eurozona. Is this the “end of the world”?
Our working assumption is that Greece will exit the single currency this year, followed by other small economies in 2013. But a much bigger or even complete break-up is possible given the precarious state of Spanish and Italian public finances and the absence of an agreed strategy even to finance a temporary bail-out.
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