Effect of Euro-Crisis on the EU Integration Process - Case Study Example

This is done in terms of the strategies, cultures, psychology and also the different leadership styles applied in the process.... The crisis is also a vivid depiction of the economic interdependence of the European Union coupled with the lack of political integration within the system which was much needed for providing a coordinated monetary and fiscal stimulus to the crisis....

Later on, many countries also joined the eu and adopted Euro as a national currency.... By the year 2010, there were 27 countries as members of the eu.... The Euro system is responsible for coordinating as well as managing the monetary policy of the eu.... From the paper "Global Crisis Led to Euro Zone Crisis" it is clear that generally, new reforms are required to be formulated to minimise the effect of the Euro crisis as well as to retain the growth of the European nations as well as the stability of the global economy....

Moreover, the theories of Federalism and Functionalism, put forward by prominent scholars gave momentum to the integration process of Europe.... The fall of the Soviet Union during the latter parts of the twentieth century gave momentum to the regional integration process in Europe.... All these incidents encouraged the regional integration process in Europe in one way or another.... Since then, a series of incidents have happened in the integration process of Europe....

The paper "The Impact of the eu Membership on Estonia" discusses that the strategy wants the eu to be smart, and have a sustainable and inclusive, and vibrant economy.... The priorities will help the eu to deliver high levels of productivity, employment, and social cohesion.... In 1997, the eu decided to give 5 central and Eastern Europe countries a chance to join the eu, one of the countries was Estonia.... This is where the journey of Estonia into joining the eu started....

This is marked as the first sign of a financial crisis appeared in the eu zone.... This is marked as the first sign of a financial crisis appeared in the eu zone.... The first sign of a financial crisis appeared in the eu zone alarmed the policy makers and called for an urgent European crisis management framework.... This paper considers a crisis in Cyprus as the latest stage of eu zone banking crisis.... The currently unfolding banking crisis in Cyprus can be considered as the latest stage of eu zone banking crisis....

Many different authors have tried to examine the process of financial integration1 in the European Countries ever since the European Monetary system has commenced.... Three major approaches have been used by various authors to examine this process.... This approach estimates quantitatively the various legal and other barriers, which may affect financial integration through different angles of the decision process regarding investment (Bekaert and Harvey,1995;Adam etal, 2002; Baele etal, 2004 etc)....

EUR 30 billion of the debt was obtained from the IMF, while EUR 80 billion was obtained from the eu.... the eu and IMF in 2011 confirmed an additional bailout of approximately 109 billion euros.... The paper "Greece Financial Crisis and Its effect on the Global Economy" is a worthy example of coursework on macro and microeconomics.... The paper "Greece Financial Crisis and Its effect on the Global Economy" is a worthy example of coursework on macro and microeconomics....

Furthermore, the main reason underlying the formation of the monetary unions was political as it was viewed as a symbol of political and social integration (Dash, R.... The member countries never stayed within the norms laid by the European Monetary Union hence led to the failure of the monetary integration....