In recommendations to German Chancellor Angela Merkel at the end of July, the German Council of Economic Experts outlined
how a weak member country could leave the Eurozone and called for strengthening the European monetary union.
Ending a years-long political deadlock, Nepal’s major political parties inked a 16-point agreement last June to pave the way for the Constituent Assembly (CA) to write a new constitution.
"A serious political and social crisis will sweep through the euro countries if they do not decide to strengthen the integration of their economies. The euro zone crisis did not begin with the Greek crisis, but was manifested much earlier, when a monetary union was created without economic and fiscal union in the context of a financial sector drugged on debt and speculation.”
When I am asked whether Europe is still a relevant “protagonist” in the modern world, I always answer that there is no doubt about it. For a long time now, the continent has been shaken by financial crises, internal security strategy crises – including wars – and instability within its borders, which definitely make it a protagonist in world affairs.