Although European Union is the most advanced form of regiona

Although European Union is the most advanced form of regional integration, it is currently facing a challenging time. What are some of the major challenges facing the EU?

Solution

The major challenges is the establish the financial stability in the Euro area as countries like Greece are defaulting on their debt obligations and major Euro economies had to support them with the funds using their tax payer\'s money . First risk is that other small economies can also follow Greece and default on the debt which can create instability in the global banking system , people might lose their money in financial markets. If Germany doesnt pay greece, their is again possibility that default by this greece can further dent the already ailing economy.

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