The European Union was formed to boost the relations between the governments of the European countries and to strengthen trade and commerce. The members of the unified Europe then came out with one common currency known as the `Euro`.

The problem the union is currently facing is adequately enough to know that the union has brought disaster and calamity upon the member states and the economy than the effective trade and boost of the economy planned previously before the union was formed.

The current position of Europe is very fragile. Many have lost their jobs, firms and industries have gone bankrupt, industries and factories permanently shut down and prices of commodities twice more expensive than before, making the life of the common man unbearable.

To save the situation, the union is financially helping the worst affected countries within the union but yet progress is still far. The question many Europeans are asking is if the countries should go back to their old currencies. But would that solve the problem? The economy is already in a very bad shape, that may many years to salvage it.

From every angle, the European Union is a total failure, since the goals on which the union was built couldn`t be achieved.