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Would euro departure help or hurt Europe’s currency union?

A demonstrator shouts slogans during a rally organized by supporters of the Yes vote in Athens, Friday, July 3, 2015. A new opinion poll shows a dead heat in Greece's referendum campaign with just two days to go before Sunday's vote on whether Greeks should accept more austerity in return for bailout loans. (AP Photo/Emilio Morenatti)
A demonstrator shouts slogans during a rally organized by supporters of the Yes vote in Athens, Friday, July 3, 2015. A new opinion poll shows a dead heat in Greece's referendum campaign with just two days to go before Sunday's vote on whether Greeks should accept more austerity in return for bailout loans. (AP Photo/Emilio Morenatti)

By Associated Press 5 min read

FRANKFURT, Germany (AP) – With aid negotiations off and ATMs running out of money, it’s not speculation any more. Greece could leave the euro. And soon.

What would that mean for the Greek people and for the European Union’s 16-year-old shared currency – the crown jewel of a six-decade-old project in binding Europe’s countries closer together?

For Greece, the short-term pain and turmoil could be extreme whereas the currency union would likely survive the initial shock.

The longer-term costs – and any possible benefits – could take years to become apparent.

Ironically, a few experts think one of the most devastating outcomes for the euro would be if Greece leaves and, against all expectation, thrives. That would undermine claims for the euro being a key to prosperity.