ABSTRACT

Introduction The European Union (EU) and the Eurozone have been the regional integration example to follow, mainly because the political and economic behavior exercised by the bloc have never been identified as hegemonic, contrary to the image projected by the United States and China in recent years. But now the euro area is facing its first economic crisis since the euro was introduced on January 1, 1999 as a common currency and the whole European project is being called into question.