article from STRATFOR. This one writing about Spain's imminent, at the time, bailout. One thing that separates Greece from Spain, is that the Spanish economy is much larger than Greece by almost a factor of 5. This means that while Greece could effectively be ousted from the EU and the Euro zone, though high level EU politicians and bureaucrats want to avoid the possible cascade effect of their removal, Spain cannot. Given enough time, and done in the right way, and it is conceivable that the EU, as a political entity, and the Euro, as a currency, could survive; the same cannot be said for Spain. It is too large a nation and too into influential to be swept away.
Moreover, if Spain goes under, and is forced out or leaves, then it is a given that Italy would soon follow and France would be asking some hard questions. If a hierarchy of the EU could be devised, it would have Germany at the top both politically and economically. The Scandinavian north would be at the next tier economically with France taking the political rung. Great Britain is in an interesting position considering it is one of the wealthier, and more militarily powerful nations, but their ability to sway the EU isn't as great as it could be.
This is in no small part Britain's historic perchance for going its on way, keeping the pound and aligning itself more closely with the United States for example. Frankly, when the EU collapse, Great Britain probably has the most to benefit from it. It is a large economy and as one of the United States closest partners in Europe it gives it a unique position to act as a intermediary between the US and other European nations. But back to Spain.
Spain is increasingly becoming a dead weight on the EU. And the political leadership of Germany has even try to attach any stipulations to their bailout. But no one summarizes the EUs predicament than Nigel Farage via Save Capitalism.