Bruno Frey argues that far from being unmitigated disaster, the possible demise of the euro and the EU can be seen as a chance for the evolution of a better future Europe :
Even more important is the fear that a destruction of the euro and the EU would lead to a catastrophe pushing all European nations into an abyss. However, no chaos leading to an economic and political collapse of Europe is to be expected. Such a view is far too pessimistic.The individual countries in Europe will quickly form new treaties among themselves....The result will be a net of overlapping contracts between countries, which the various nations will join at will. These contracts will not be based on a vague notion of what ‘’Europe’ may mean, but rather on functional efficiency. Crucially, the individual treaties will be stable because they will be in the interest of each member...Some might consider such a flexible net of contracts and jurisdictions to be too complicated and cumbersome, and therefore undesirable. But this is only at first sight. The essence of ‘Europe’ is variety and diversity rather than étatisme and bureaucracy. A net of contracts of which each one serves a particular functional purpose is open to all countries at the border of Europe and beyond. Thus, for example, Turkey could participate in contracts with an economic orientation and would in that role certainly be welcomed by the other European nations. At the same time, it might be excluded from political contracts if the other European members feel that Turkey does not (yet) fulfil the necessary requirements with respect to human rights. This allows for blurred distinctions: Turkey would be part of Europe in some respects, but not in others. This exactly mirrors reality, the only distinction being that the existing EU does not include Turkey but is entangled in what one might call a stalemate.An association of European states using flexible and overlapping contracts based on functions can be considered desirable as the existing problems would be efficiently addressed while the essence of Europe would be strengthened. A possible demise of the euro and the EU can be seen as a chance for the evolution of a better future Europe.
It is interesting that while experts are now thinking around new ways to offer stable arrangements African leaders are championing deeper regional integration without considering the consequences. The European project had stronger preconditions than any of the current African blocs. It is laughable to think that leaders are trying to move to deeper integration without taking on board its lessons.