The euro crisis has revolutionised politics across Europe. Established political
parties are fighting for their lives; countries that thought of themselves as part
of the European core are finding themselves on the periphery; and a huge
gulf has emerged in the core of Europe. What we are witnessing, as the euro
crisis enters its third year, is the emergence of a new political geography for
the European Union that is reshuffling the divisions within and between the
nations of Europe. The crisis is not over, but it has evolved from a banking
crisis and then an economic crisis into an acute political crisis.

Read Here – The European Council on Foreign Relations