Mobilising an army takes on such a momentum of its own that a point of no return is eventually reached. So it may be with the euro zone crisis: before long, the slide towards break-up of the single currency might prove impossible to reverse. Even as global markets rallied on Monday on talk that a grand plan to save the euro was finally taking shape, more and more researchers are squarely broaching the alternative outcome of the currency's disintegration. Jean Pisani-Ferry, director of Bruegel, a respected Brussels think tank, noted that market participants and real businesses were increasingly pricing in such a ... (full story)