Analysis of current development in the Eurozone and its possible future development

The aim of this thesis is an analysis of the current sovereign debt crisis in the Eurozone. In the first part the establishment of the Euro area is described and the key events which preceded it. Subsequently, the paper discusses the the origin and causes of the crisis in general and then in particular, in the most indebted countries in the Eurozone. The second part concerns about current development of the situation, including measures approved to stop the crisis. Last chapter analyses the possible solutions of the crisis and the direction, in which the Eurozone, or more precisely Europe, might head towards