5. Would leaving the euro be an absolute disaster?
It is hard to know what the future brings beyond more Depression. But there's a case to be made that leaving the euro could be a good thing for Greece. If not that, there's an even stronger case to be made that joining the euro was a bad thing.
Now, Greece has been forced to deflate its economy. That is, it has had to cut wages — which makes unemployment worse — rather than cut its currency. It's the same problem that the gold standard created during the 1930s. The difference, though, is that Europeans are even more attached to the euro than they were to the gold standard, which is saying something, since, at the time, they equated it with Western civilization itself. That's because the euro is the gold standard with moral authority.