Goal to Create a Common Currency for European Nations

What was the original goal to create a common currency for European nations,  Why this idea is not as successful as expected? What is the future of the European Union and the Euro?  How the creation of a common European market can be interpreted from the free trade theory perspective?  What are your thoughts, ideas, and/or concerns regarding the European Union and the Euro?  What impact does the situation in Europe have on the world economy?  What are the outcomes for the United States? 

The Great Euro Crisis of 2012 is such an interesting event has occurred in Europe. Parts of the events reminds me of the recession that occurred in United States 2007 through 2008 causing the subprime mortgage to burst. I think it is going to take more time to fully see if the introduction of Euro will deem successful in Greece and other countries in the long run. In my opinion, the introduction of the Euro to neighboring European countries is to unite all countries together to form a stronger alliance in economics, resources, and political power. According to an article from The Economist The euro crisis: Back to Reality, earlier in 2014 Greece showed promise by restoring their history with private creditors raising over €3 billion yielding at less than 5 percent (Kambayashi, 2014). After the market sell-out in October 2014, causing the Greek yields to exceeding 9 percent spreading yields between Germany and other European countries. The slow growth in the euro zones is concerning as deflation rises making debt more unbearable.

The future of the European Unions and the Euro may be a long road full of ups and downs are the currency tries to gain strength in all countries. Countries like Greece and Spain are in deficit with their people having little confidence in their currency. China’s Yuan currency has shown great powers in some years making American politician’s argue China’ s currencies cheapness making Chinese goods overly competitive in America’s market (Simmonds, 2013). Some economists believe China might for see their economy to burst in the foreseeable future. What’s the reasoning of Yuan’s strong standing? The country’s confidence onto its currency and the hard work the people puts in to keeping it that way.