The president of Las Vegas Sands (owners of the Venetian in Las Vegas) recently announced that his Eurovegas project might not happen in Spain due to the risk of a Euro breakup.
This is a very tough situation for Spanish companies and banks, because no matter how financially sound you are, people are not going to sign a contract with you if there is the risk that the contract will magically be transformed from Euros to Pesetas.
Personally I think the Euro omelet is sufficiently scrambled enough to make any breakup highly unlikely, especially since there is a number of nefarious actions that the Spanish government could do to basically print as many Euros as they want.
However, for the outside world, when German government ministers start talking about a Greek exit of the Euro, it is viewed as perhaps a trail run for a large Euro breakup.
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