Mike Shedlock produces a good analysis of what we can expect the political fallout to be from the economic disaster that is the Euro.

Basically, the next elections will favor the politicians who are willing to say that they will take the country out of the Euro, and default on their enormous debt.  Hollande in France is already in deep trouble, and the Greeks are looking at new elections in June, which will favor heavily the far right and far left.  Spain will never meet it's financial goals without severe austerity that will be the death of any political party that seriously supports it.

Again, at some point the Germans will have to face the reality that the Latin countries will of necessity leave the Euro, and it will be better for the prudent nations to take the bull by the horns and restructure the Euro into something that is used by many fewer, but economically more mature and responsible countries.

Keep in mind in all this that what ever happens over there strongly effects the economies in the rest of the world, including ourselves, as well as the Chinese, the Indians and the Brazilians.    

The next year or two ought to be a wild ride indeed.