Prospects for the euro on the world currency market under the EU debt crisis

Abstract

The article described the process as a whole in the European monetary system, due to the sovereign debt crisis in the eurozone. The factors that influence the development and prospects of the euro in the international monetary and financial markets. At present, the euro is the second largest global currency and most liquid alternative to the U.S. dollar, which is necessary to maintain economic balance in the global financial system. Decisive policy actions at the European level , including direct monetary transactions to complete the creation of the European Stability Mechanism , an agreement on debt relief deal for Greece and only oversight mechanisms strengthened confidence in the sustainability of economic and monetary union. However, further efforts are needed by the member countries of the European Union to save the single currency and strengthen its position in the international financial and currency markets.