You may see this as a "normal" transition period but that doesn't mean EMU will survive intact. Sovereign debt crises (plural) and bank solvency are huge proble

You may see this as a "normal" transition period but that doesn't mean EMU will survive intact. Sovereign debt crises (plural) and bank solvency are huge problems for several EMU states. If one EMU state defaults on sovereign debt, there will be a chain reaction in the banking system and the debt markets. Several states are at risk of defaulting. The politics remain highly unpredictable.