All eyes will be on Greek elections this weekend that could decide whether the debt-ridden country opts to leave the eurozone, setting a potentially dangerous precedent for other weak euro nations.

Economists at Morgan Stanley (NYSE:MS) believe there is a 35% chance of a eurozone breakup during the next 12 to 18 months, a scary prospect considering the currency union debuted just over a decade ago.

"A decade isn't very long in human history," said Richard Sylla, an economist and financial historian at NYU who said the euro can be classified as "kind of a failure."

The eurozone was designed as part of a long-standing political ambition to integrate Europe in an effort to prevent a recurrence of the wars that plagued the continent for the better part of the previous 500 years.

"By the time Europe got to the 20th century, they were just exhausted and sick of it. It almost destroyed their entire civilization," said James Rickards, author of Currency Wars: The Making of the Next Global Crisis.