End of the Europe as we Know it?

Just a few hours ago, «German Chancellor Angela Merkel told parliamentarians from her Christian Democratic Union that the situation on Greece and Italy was "extremely fragile,"» *

The German Chancellor is very right. «Italy faces a debt mountain of 1.9 trillion euros (£1.7tn; $2.7tn). But Prime Minister Silvio Berlusconi, beset by personal scandals, has failed to pass clear measures. (…) Mr Trichet * urged Italy to push through the package of cuts announced in early August (...) He described as "extremely important" all measures to improve the "flexibility" of Italy's economy. Both industrialists and union leaders have accused the austerity plan of relying too much on spending cuts and new taxes, and offering little to stimulate growth or to encourage job creation. Disagreements over taxes and pensions within Mr Berlusconi's coalition government led to a series of U-turns over the past week. A tax on high earners and a rise in the pension age were proposed, then dropped, within days.» *

Leaving Euro or a new Europe?
One of the solution could see Italy or Greece leaving Eurozone, although during the Saturday's conference, in Cernobbio on northern Italy's Lake Como, the German economist and President of the Ifo Institute for Economic Research Hans-Werner Sinn * stated that “The Northern of Italy is the European region that grows the most” *

Starting from this point of view, this is the opinion of the german newspaper Die Welt in an article called “Onwards to Europe 2.0”.

«A new layout of the European map is hope for a future beyond nation, religion and tradition. Out of Italy, the wealthy industrial north as a whole would be in the running for the Alps region, with a hand outstretched to Florence and Urbino. In the east, the polyglot Slovenians would round out the federation. With 70 million inhabitants across 450,000 square kilometers, the whole area would be the fourth largest economy in the world, after the United States, China and Japan.» *

Photo of Angela Merkel with Sarkozy and Berlusconi * - Map of Eurozone *