it's the first of the epic dominoes about to fall which ultimately topples all fiat currencies around the world.
People usually adapt quickly to changes in the commercial landscape.. Would they not just find another currency they trusted and denominate things in that? The USD or the German currency maybe?
Before they let it sink beneath the waves they will try to save it. Can you spell I-N-F-L-A-T-I-O-N!! They need to dump the debt. One surefire way to do that.