Development and problems of the European integration

This thesis is principal focused on the question of the future existence and sustainability of the European integration project and its monetary element -- euro-area related to the competitiveness due to consequences of the global financial crisis, present situation and debt difficulties affecting states of Southern Europe, business and financially connected with other European countries. In my considerations and conclusions I also deal with prospective estate in case of various changes of the integration including disintegration, end of the single currency, as well as the factors, that might cause these changes and inflict serious consequences. It is necessary to reveal if the formed situation is acceptable for the member states. The aim of the thesis is to characterize and provide a piece of information about existing progress of the European integration in relation to treaties including competitiveness rating, outline serious issues especially endangering the euro-area and future stability of the whole European Union and analyze its impact, propose solutions and possible scenarios, eventually assess development perspectives and sustainability of the European Union as a complex