What about no resolution? I mean, the continuing of the status quo with the continuous rotting of the South?

I actually do not see a narrative of "leaving the Euro" taking shape. For example large unemployment is blamed on the lack of "structural reform" and I do not see big resistance to such narrative. Do not underestimate the power of wacky narratives being in control...

Is it a prolonged rotting a sustainable perspective?

Or will be Northern European countries getting fed up with Latin emigration forcing some change (Nigel Farage has been venting about this instead of Romanian and Bulgarian scare...)