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The Future of the Eurozone

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The Future of the Euro Zone
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The Future of the Euro Zone
The Euro zone came together on 1st January 1991. It's composed of nineteen countries within Europe namely: Cyprus, Austria, Belgium, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia and Spain. The members of the euro zone are the main the main determinants of the success or failure of the Euro. The decisions made by these made by these respective governments as well as the relations of these countries to each other shape the future of the whole region. The euro zone crisis which started in 2009 was triggered by the withdrawal of investors in the Greece (Nordvig, 2013, p. 7). The credit crunch in Greece later led to the collapse of the housing markets in both Ireland and Spain which later on created a drift in the financial markets of the members in the Euro zone. The euro crisis pointed out major flaws in the European Union’s Economic Monitory Union policies (Dăianu, D'Adda, Basevi, & Kumar, 2014). The turbulence came to an end in 2013 making the region fairly stable and calm seems to have resumed in 2014.
In 2013, Greece got an excess budget, lowered the interest rates of their bond, and got a positive gross domestic product (Dăianu, D'Adda, Basevi, & Kumar, 2014). Other countries in the euro zone have also recovered and trends promise a brighter future. The ability of some countries to bounce back from the crisis does not reassure all nations within the euro zone. As a result, they are opting to break from the European alliance. On the other hand, some countries feel only a revision of the policies is needed to ensure a prosperous future for the region. The future of the euro zone will be primarily be determined by the policy choices made by the European parliament’s after the

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