The euro collapsing would be tragic. But the idea that the world would fall into chaos is rather baseless.
We’re almost there now. Just this ONE event, no. But there is a system at play here. I know systems. This one is on the edge of collapse.
Major American Banks are tied to the hip with Europe banks. So much cross collateral obligations it would make the fall of USSR look like a cake walk.
I think it is just a matter of time before Greece leaves the Euro zone and that will cause chaos. But, just like Greece, Spain and Portugal are trapped in a depression caused by the Euro so I would not be surprised to see them go also. Italy is the big wild card, it they go, then the whole Euro zone might fracture.
I don't panic easily, but, I have taken to keeping a large amount of Euro’s (issued by Germany, of course!) on hand, the larder full of food and both cars full of gas.
When the brown bovine matter hits the slowly rotating fan I think it will be time to stay home and watch the panic.