Amidst volatile economy since the inception of world financial crisis, Euro zone has finally evolved with observable progress on economic reforms that has ultimately led or provided single currency bloc some grip and economic optimism. Although the economic block has begun to gain momentum, it is mandatory that the union to continue and emerge with additional economic reforms and policies to perpetually sustain its economy. The key issues that the government and finance authorities of Euro zone countries to initially deal with ongoing financial crisis and restore market confidence could be eradication of structural obstacles and initiation of prudent fiscal consolidation. These actions are much expected to promote employment opportunities and eventually facilitate higher economic growth rates. Fully fledged economic integration, i.e., in terms of economic and monetary integration, with major structural redesign of configuration or existing integration, i.e., deeper integration, is believed to ultimately foster the single currency zone towards positive economic outlook.

Having countries like Spain and Greece within the bloc, pursuing economic austerity measures to actually strengthen and facilitate their internal financial regimes, bond yields in these countries including their peripheries have started to plunge amidst fallen market sentiments, thanks to support given by the words of Mario Draghi, President of European Central Bank quoting, “..to do whatever it takes to save the Euro zone.”

Some of the leaders in Euro zone have also focused on accommodating public investments in assessment of their national fiscal plans, to support infrastructural development, increase public spending, to create rooms for employment opportunities and eventually mark multiplier effect on the overall economy. The political leaders have also been saying that they would be allowing time to debt ridden economies in the single bloc to correct their excessive deficit, of course, amidst their endeavors and propensity towards agreed economic consolidation. Countries like Spain, Greece and Portugal have already gone through such reforms, as it was desperately required.

Euro zone, passing through such economic hardship, is indeed minutely being observed by entire world economies assessing how they deal over their differences regarding supervision of financial systems, policies, reforms and most importantly, how they contribute, individually and jointly, in eradicating or even lowering Euro zone debt crisis.