($EURUSD, $MACRO) Credit Suisse on Eurozone break-up: The most interesting scenario in our view is that of Italy leaving the Euro voluntarily. The cost/benefit of Italy leaving the Euro looks a lot less clearcut than for the rest of the periphery. Losses to core EU banks would be around €300bn, €630bn to peripheral banks excluding Italy and €150bn to the ECB. We think the chance of a general break-up of the Euro is just 10%. Peripheral currencies would fall by about 50%, pushing net foreign liabilities to 200-250% of GDP for the peripheral countries excluding Italy.