| Abstract | This paper is a theoretical analysis of the creation, crisis, and future of the Eurozone. The beginning outlines specifics of the Eurozone as well as outlines in detail its history. Different viewpoints of economic integration theory are outlined in order to explain the rationale behind the creation of the Eurozone and identify key metrics to measure its success and its failures. I examine the key accomplishments of the Eurozone and the positive impact it has had on Europe. Afterward, I outline the recent crisis faced by the Eurozone and many of the reasons for its great turmoil. This explanation is supplemented by sharing the perspectives of a strong Eurozone economy, Germany, a weak Eurozone economy, Greece, and a European Union member not in the Eurozone, Great Britain. Finally, I propose a solution for the future of the Eurozone. I identify the three stakeholder groups being current Eurozone members, European Union members who elect to use their own currency, and potential Eurozone members and describe how each will act to rebuild the Eurozone. Ultimately, with the new proposition, the Eurozone can not only recover, but can return stronger than before. |
