The severe crisis affecting European Monetary Union has emphasized the prevailing interests of national governments and the lack of political leadership of European institutions, not to mention the failure of eurozone governance in terms of effective crisis management. The present work argues...

The European Monetary Union is characterized by a crisis of governance, this has become more evident with the crisis of the euro which has shown the weaknesses of the European institutions and stressed the heterogeneity of member countries. The global financial crisis struck the euro area very...