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Is the Euro an Idea Whose Time Has Gone?

Should the euro be thrown upon the dustbin of history?  My former employer is holding a web debate on the motion that "this house believes the euro, as a single currency, is dividing Europe, and should be abolished."

I wouldn't go quite that far: if Germany, France, and the Benelux countries want to have a currency union, I can't see much reason that they shouldn't.  But I do think that the Euro is bad for the periphery, which needs better control over its monetary policy.  And I think that at least a few of them are going to have to exit in the relatively near future.