Looking forward to the future development of the euro area

摘要

After the euro area was founded, Milton Friedman, the owner of the Nobel Economics Prize, pointed out that it couldn't withstand the first big economic crisis. It was ten years old in 2009 when the sovereign debt crisis broke out in the wake of the global financial crisis. Nowadays, with the crisis becoming increasingly serious, whether the euro area might break up turns into a hot topic, though no agreement has been reached. Basing on the economic development and polices of this period, proceeding from the sovereign debt crisis, this article aims at looking forward to the future development of the euro area.