I think that ultimately "a euro" will survive, but not "the euro" as it exists now. It will likely be the result of a Germanic monetary union that France might get invited to join but that will definitely be off limits for the PIIGS (and probably several of the more recent euro converts). Of course, this will probably mean the entire EU will be restructured, and so I expect you'll see various layers of participation (with Germany ultimately calling the shots - the French have lost their pre-eminency in the EU and are unlikely to ever regain it).

It's not all that surprising, either. As early as before World War I it was clear that Germany was going to dominate Europe economically if it ever stopped trying to dominate it militarily. Deutschland über alles!