European Monetary Union is in crisis.  Greece is likely to default on its monetary commitments. There is talk of kicking Greece out of the European Union (EU). Greece has PIIGS for company (Portugal, Italy, Ireland, Greece & Spain). All have weak Sovereign finances. It is believed that if Greece becomes independent of EU it could devaluate itself out of its problems. But this surgical treatment has many side effects.    Once Greece is out, Currency speculators will cause havoc with the other PIIGS. It would kick-start a contagion in Europe. The treatment may itself turn into a disease. The suggestion proposed is similar to corporate restructuring / Split. Split Euro into two. Euro (S): representing strong countries like Germany, France and others, and Euro (W): representing weak PIIGS. Euro (W) will gradually devaluate itself and come out of its problems. The union will have sufficient size to take the currency speculators head on....