Does mere survival count as an achievement? It rather depends on whether your continued existence is in doubt or taken for granted. By that standard, the 2010s were a greater success for Europe’s monetary union than the preceding decade. And that has implications for what to expect for the euro in 2020.
The eurozone sovereign debt crisis caused an enormous shift in European politics. Leaders were forced not just to patch together emergency institutional reforms, but also to accept that further ones were required. The “incompleteness