Not Just About Money: EU Crisis and Its Next Step

In 1999, the Euro was born, and soon became a strong alternative currency to the U.S. dollar.

However, starting in 2009, first Greece, then Ireland, Italy, Spain and Portugal, the Euro has come under pressure because of the large national debts of these countries. But the crisis is not just about money.

Political differences, budget cuts, high unemployment and most importantly the threat to national sovereignty are all factors that have led concerns over the EU’s future.

Will the EU endure these growing pains? Can it continue the integration process while respecting the sovereignty of each country? How are these questions going to affect us here in Taiwan?