HISTORY AND INTEGRATION. THE CASE OF THE SINGLE EUROPEAN CURRENCY IN THE REALITIES OF EUROPEAN INTEGRATION

Amid the economic and financial crisis, the single European currency, the euro, celebrated on the 1st of January 2012, 10 years since its creation as a physical currency. Nevertheless, the stability of the euro has been seriously jeopardised lately, which has prompted quite a few voices to question its uncertain fate. At present, the future of the single European currency is germane to a number of problems, such as budget deficit, inflation rate, the effectiveness of the Fiscal Governance Treaty, sovereign debts, economic shocks etc. The length of the crisis depends on the severity of the current economic and financial problems and of the fiscal policy of a European Union which experiences the aftermath of a state of crisis, including the ambivalent perception of European citizens with regard to the state of integration. Hence, our study aims to present future perspectives germane to the impact of the aforementioned situation on economic and social cohesion within the European Union.