In the News–A Spiritual Perspective February 20, 2012 Issue

For unity in the Eurozone

By Michelle Nanouche

The European Union was established as a partnership to foster cooperation and avoid conflict among its member nations through economic interdependence. A single currency—the euro—became the means of accelerating political integration. Now the euro is in a state of flux. Debt levels in some countries are maxing out the patience and resources of wealthier countries called upon to bail out their neighbors. Some analysts fear that the potential demise of the euro could bring about a repeat of the worldwide financial crash of 1929. And many are wondering if the EU can survive in the long run. 

Financial and political solutions are being offered—from dissolving the EU entirely, to extreme belt-tightening in debt-ridden nations and further devaluing the euro in order to improve the trade balance with countries outside the Eurozone. Each plan has its share of supporters and detractors. No one wants to see Europe implode. What can those inside and outside the EU do to aid the intelligent unfolding of lasting solutions to the Eurozone’s problems? 

I believe that prayer—spiritual reasoning that stays out of the fray, but seeks divine light on the situation—can open the way out of the crisis. 