Europe : Common Money - Political Union?

Monetary Union marks the crowning step in the process of economic integration in Europe. This scenario of one currency, one market and 11 member countries raises the issue of whether further political integration is needed to complement the union already achieved in the monetary and economic fields. While there are pressures for change to the current status quo from several directions, further political integration will depend on the success of Monetary Union which crucially requires that countries tackle their reform challenges