Speculation over a eurozone break-up refuses to go away. While some believe the idea of any country leaving a union that took ten years to achieve is pure fantasy, others think the present situation is unsustainable.
While views differ widely over the likelihood of an escalating catastrophe in Europe, nobody can disagree with the need to include extra protections in deals.
But, there is one important issue that many have overlooked: building in protections that would be triggered if a country leaves the eurozone risks leaving it too late. Trying to cover your losses once the worst case scenario has happened and...