European Debt Crisis and the Future of the Monetary Union
Assoc. Prof. Dr. Ilhan Eroglu, Res. Asst. Mustafa Necati Çoban, T. A. Nalan Kangal

Abstract
European Monetary Union, which has been established with the common use of Euro, has reached a state to be seriously questioned with the crisis that arose in 2008 and named later on as European Debt Crisis. This questioning is based on the lack of mutual design of Monetary Union’s financial discipline and its monetary stability. This study aims to evaluate the Monetary Union’s theoretical structure and the possible scenarios on Euro’s future during the crisis. In the light of the evaluations in this study, it’s been reached the conclusion that the Euro Zone is against options like breaking apart, separation, disintegration, reorganization and remodeling, and among these options remodeling is more suitable for Euro Zone’s structure.

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