Hullabaloo for a Speedbump

For the past 4-5 years, much of the western world has been in the throes of a recession. The European Union in particular has come under fire for allowing countries with high debt or risk levels to join the Euro, i.e. Greece, Ireland, Portugal, Italy, and Spain. There has been much speculation (mostly from the Euro-skeptics) that, because of these "toxic" countries, the Euro will break up, the countries will revert to their old currencies, and possibly the EU itself will break up.
Let's assume, for a moment, that a country does decide to leave the Euro and revert back to its old currency. What would happen? Well, because that currency is not collectively backed by the other 16 members, the old currency would face severe inflation because of its speculated buying risk on the international market. The currency itself would fall in terms of exchange rate, and there would probably be austerity within the country, leading to higher unemployment, possibly the rise of nationalist parties, etc. There is little to no incentive to leave the Euro.
For a "smaller" country (always use that term lightly), the Euro and the Eurozone is a treasure trove. Not only is there equal footing for interstate trade within the Eurozone, but there is also a free transit for both people and companies. It also protects the smaller countries from highly unfavorable exchange rates in the international market.
But what about the current crisis, you ask? Won't the other Eurozone members want to boot the countries who are bringing the Euro down?
The answer, in simple terms, is no. The countries rated lower in international credit standards keep the Euro at a stable trading level, unlike the pound, which British Exchequer Osborne refuses to devalue (currently worth $1.53). Should the endangered countries leave the Euro, purchasing on the currency will likely rise, leading to an increase in its price, making exports of goods more difficult.
As for the legal side, crises such as these in a currency's infancy lead to a consolidation of the currency itself, such as in a set of new banking rules unveiled in December of 2012. Obviously, no currency is ever flawless: the dollar had more than its fair share of crises in its infancy, including individual states' desires to return to their own individual currencies.
I can only say it so many times: the European Union will not break up. Even if, on the strange and unlikely contingent that the Eurozone dissolves, the EU will remain. It is too deeply entrenched in the laws and trading regulations of its member states (especially in the original six) to suddenly dissolve, or even dissolve over time.
As one can always expect, recessions do not necessarily cure themselves in five years' time, or ten years' time, or even fifteen years' time. What matters, however, is wondering for whom is this a recession? Those who make from half a million (in whatever currency) to one million or more a year, or everyone below them?

That's all for now, 
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