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The Fate of the Eurozone

As the European Union’s political order breaks down, so too will its monetary union, the eurozone. At the core of the crisis is the struggle over the good of nations versus the good of the whole. Put simply, richer nations are tired of shouldering the financial responsibility of the entire union. And as some eurozone members become increasingly weighed down by high debt and deficit levels, fragile economies and weak banking sectors, other eurozone members are turning to Euroskeptic and nationalist parties that want to leave the currency union altogether.

And as some eurozone members become increasingly weighed down by high debt and deficit levels, fragile economies and weak banking sectors, other eurozone members are turning to euroskeptic and nationalist parties that want to leave the currency union altogether.
(Hannelore Foerster/Getty Images)
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