1. What is happening and why?
The crises in 2013

2. The Euro
It was once said that “currency follows sovereignty, not the other way round.”
This did not happen with the Euro, since the member states retained fiscal control and, in many cases, getting themselves into enormous debt.
Germany has been pressing for EU oversight of fiscal policy, since it is the principal strong economy.

3. The Euro 2 Will the crisis lead to a break-up of the Eurozone?
We have weak economies with a strong currency.

4. Stagnation and Unemployment
We have many countries deeply in debt
The policy is “austerity” which does not encourage investment, and removes capital.
This prevents job-creation and this is leading to huge unemployment (Spain 27%, youth 66%). During the Great Depression, unemployment in the USA reached 25%. Political destabilization.

5. Time to Quit?
The UK has never accepted the political dimension of the EU, and it never joined the Eurozone.
It tends to blame many of the country’s problems on EU interference in policy and law.
Proposal for referendum (especially from rising Right-wing parties) on staying in, or leaving the EU.

6. Politics
The program of austerity can easily destabilize countries such as Spain and Greece.
There many people blame the EU (and particularly Germany) for making their situation worse by the terms of bail-outs.
This could lead to radicalization and a breakup of the Eurozone and even the EU.

7. Bulgaria Great expectations from EU membership in 2007.
Coincided exactly with world recession.
Great disappointment on both sides—the EU feeling BG was “not ready.”
BG’s expectations were probably inflated anyway, but the timing was terrible.