If disaster strikes, how exactly does a eurozone nation hit the emergency escape button on the euro? Once considered an outlandish scenario, it is no longer taboo among economists. Whether it is the entire euro project collapsing or just one country jettisoning the single currency, analysts agree on rule number one: Prevent panic. If the currency itself implodes, eurozone authorities could no longer recognise the euro as a common currency, said Paulo Reis Mourao of the University of Minho in Braga, Portugal. “This would trigger a series of procedures that would require national central banks to issue currencies ... (full story)