Euro stability helps to forge common goal

What impact - nagative and positive - has the global financial crisis of 2008 on the euro and economic and monetary union? The safety offered by the euro, which in its 10 years has become a stable, global currency, has suddenly made it more attractive.

However, at risk are the fiscal rules that are meant to be followed by eurozone governments. The European Union’s stability and growth pact, which sets limits on public sector deficits and debt, was intended to compensate for the lack of a political union in the eurozone. But the rapidly worsening economic situation could throw public finances out of kilter.