If Spain goes under, Italy will come under even more scrutiny.
Italy needed structural reforms to become more competitive.
Not all Greeks are ready to do whatever is necessary to stay in the euro.
A lot of the American press at the time was saying 'just watch what happens when Bertelsmann tries to buy EMI, that will be a moment of truth that will show the Commission's true colors.' Well, that deal never happened either.
Italy even in the future will not need aid from the European Financial Stability Fund.
If the euro becomes a factor promoting Europe's drifting apart, then the foundation of the European project is destroyed.