Unhappy Union : How Europe can resolve the crisis it has created - and what is likely to happen
The euro was supposed to create an unbreakable bond between the nations and people of Europe a tangible, everyday symbol of a common future European citizenship. But when the debt crisis struck, the flaws in the currency brought the EU close to breaking point after decades of post-war integration.
Deep fault-lines have opened up, between north and south between European institutions and nation-states, and between rulers and ruled, raising profound questions about Europe's
democratic deficit. Belief in European institutions and national governments alike is waning, while radicals of both the left and the right are gaining power and influence.
If the euro is to survive and thrive, leaders will have to confront some difficult questions: How much national sovereignty are they willing to give up? How much of the debt burden and banking
risk will they share? And what role will the EU and euro play in the wider world?