Explain The Euro-Zone Crisis

1269 Words6 Pages
This draft paper focuses on the use of neo-functionalism to explain the Euro-zone crisis. It explains the factors that led to the crisis and the prominent role of the European Union leaders during the crisis that is to say the steps and measures put in place to ensure quick economic recovery and development.
The European Monetary union (EMU) played a crucial role as well by providing the guidelines that brought about some economic reforms and adjustments programs in those countries affected by the Eurozone crisis. The guidelines actually helped those countries to start working on ways to ensure economic growth and reforms. This paper identifies and explain the importance of neo-functionalism towards the European Union Integration.

The Eurozone area involves the countries that are using euro as their national currency. They are 19 in total numbers and all of them are part of the EU.
Alongside with this, some European Union member countries are not part of the Eurozone. This is because those countries are still using their national currencies and not euro.
The Euro is a very strong and important currency in the entire world. It is even stronger than the American dollars and many people and business tycoon use it on a daily basis to make a purchase and transact their business. We can trace the beginning of European Union integration back to when some countries agreed and decided to adopt euro as their national and official currency. This is because it makes it easier for exchange and conversion to other
…show more content…
This because of the impact of the global financial crisis. Many countries in the Eurozone were doing some trade dealings with the United States of America that is they have some investments in America. So when they crisis started it was spread also to the

More about Explain The Euro-Zone Crisis

Open Document