European Debt Crisis And The Prospects Of The EU

The process of European unification is significant, which the Euro is one of its pillars, but the European sovereign crisis has so far lasted more than four years since the outbreak in the early2010. European debt crisis is a setback on the road which leads to the union of European. Both fates of the eurozone and the euro have been tested even though a variety of reasons to explain the crises. The responses to the crisis have various positions, including the exit out of the euro and the EU’s.Germany and France, the EU core countries, has taken measures and many policies which can be summed up during the crisis to response to the crisis.Based on previous research, describing the process of the European debt crisis and the analysis of various reasons, the author believes the crisis is one of the frustrations in the process of EU harmonization at the current. It is the opposite way that the debt crisis gives the European unification process in areas of economic and political policy that pointed out the direction and power of cooperation.In this papers, the imbalance development of EU has been emphasized as the root reason of the crisis, therefore, in addition to short-term financial aid to survive, the EU’s policy response should be engaged in perfecting the system and centralized fiscal authority.Especially, the core countries should be developed long-term plan to support the development of the edge countries to achieve the economic level which roughly balanced with the core countries. The edge countries should optimize the economic structure and substantially closer to the core countries to change the current situation of uneven development.The EU’s future has been prospected in the papers that European unity will be promoted by the crisis to a greater historical stage, meanwhile, the collapse of the eurozone and the disintegration of EU will not break out as a major setback in the development. Over the past few decades, the development of eurozone is overwhelming and the resistance to current difficulties will be overcome, as discarded All rivers run into the sea. After all, the problem of the debt.crisis which has exposed in the EU will contribute to a more unified direction, at the same time, the case will give the world a way how to avoid and deal with the debt crisis.