Did somebody say economic crisis?
Because when you take an economic union with over 20% of the world's GDP and break it back into a couple dozen pieces, you are going to have financial troubles. Trade within Europe would be heavily altered and/or reduced, corporations are going to have trouble investing in smaller countries, some countries will be overwhelmed by debt, big structure like tunnels and bridges will have uncertain futures, and the European Space Agency will die a fast death.
As for possible benefits? Well, the greater degree of autonomy will be welcome by some. Certain countries will welcome the ability to close borders to immigrants, tax imports from countries they dislike, and so on. Protective policies may become more possible, creating more industrial capacity in some countries.
Also, a ton of Europeans live outside their native countries but within the EU. Something like 8% or so. That's going to be a logistic nightmare, one way or another.
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