"Europe must prevent Greece from becoming a full-blown catastrophe and ensure that the same fiscal 'remedy' is not applied to other weak economies" -- Franziska BrantnerThe brutality of the Second World War and the he angst of the Cold War forced European nations to establish the European Union for peace and unity in the region. With the ratification of the Maastricht Treaty by the members of the European Community in 1993, an economic and political union; the European Union is formed. In December 2012, the European Union awarded the Nobel Peace Prize for its “historic achievements”. However, the member states of the European Union are still facing the crisis that began in the Eurozone since 2009. One of the main causes of the crisis is the common currency – the euro which has a weak structural structure. The creation of a currency, the euro, is one of the most important aspects of the European Union. German Chancellor Gerhard SchrÖder stated in a 1999 speech that “The introduction of the euro is probably the most important integration step since the beginning of the unification process.” (Yeager, 30). Therefore, in this essay I would like to study the history of the creation of the euro, lessons that the European Union draws from the euro crisis and analyze the future predictions of specialists about the euro. In my article I will use the European Commission's publication “Economic and Monetary Union and the Euro” as the main source and other credible sources on the Euro. Since the inception of the European Coal and Steel Community with the Treaty of Paris in the 1950s, European Community leaders have had greater ambitions to create the new “common currency”. It was politicians rather than economists who pushed it, and the idea is... at the heart of the paper... current crisis, the future of the unified European Union is higher. Works cited European Commission. Economic and monetary union and the euro. Publications. Luxembourg: Publications Office of the European Union, 2012. Document.Grauwe, Paul De. "The political economy of the euro". The Annual Review of Political Science (2013): 153-170. Academic research completed.Schwartz, Pedro. “Why the Euro Failed and How It Will Survive.” Cato Journal (2013): 521-534. Academic research completed.Schwarzer, Daniela. "Crisis and reforms in the euro area". Current History (2013): 83-87. Academic research completed.Witte, Mark Dawson and Floris de. "The constitutional balance in the EU after the euro crisis". The Modern Law Review (2013): 817-844. Academic research completed.Yeager, Leland B. "The euro vis-à-vis other currencies." Cato Journal (2004): 27-40. Academic research completed.