Spreading Euro Fire Economists Warn EU on 'Threshold of Catastrophe'

The euro crisis has returned with a vengeance this week, with Greece potentially facing bankruptcy, Spain teetering towards a bailout and even Germany at risk of losing its top credit rating. A group of prominent economists are calling for a radical restructuring of Europe and the euro zone to prevent a disaster of "incalculable proportions."
The construction site for the new European Central Bank headquarters in Frankfurt: While you're at it, economists are suggesting, you should build a new euro zone.

The construction site for the new European Central Bank headquarters in Frankfurt: While you're at it, economists are suggesting, you should build a new euro zone.

Foto: KAI PFAFFENBACH/ REUTERS
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