Michael Probst / AP
For weeks, commentators on Europe’s financial apocalypse have waffled between predicting the euro’s collapse and believing the continent’s leaders would do whatever it took to save the monetary union. Now The Economist, the bible of international finance, has tipped the scales with a gloomy editorial arguing that the chances for rescue “are dwindling fast” despite leaders’ increasing commitment to drastic measures. “The threat of disaster does not always stop it from happening,” the magazine writes. “Without a dramatic change of heart by the ECB and by European leaders, the single currency could break up within weeks. Any number of events, from the failure of a big bank to the collapse of a government to more dud bond auctions, could cause its demise.”