CAN THE EUROPEAN UNION AND THE EURO SURVIVE THE CURRENT CRISIS AND REORGANIZATION UNDER A NEW AGREEMENT ?...........

Twenty years to the day on Friday, German Chancellor Angela Merkel. persuaded all current European Union members except for Great Britain, to forsake the original Treaty, in favor of a new Accord, forming a new European Union and addressing national and regional spending, in light of the debt crisis besetting several countries and threatening still others.  It is also an attempt to salvage the potency and continuity of the Euro, as the common European Union currency on the world market.  The new treaty allows the European Union Court of Justice to overturn laws that fail to provide responsible financial discipline, and ratifies agreement among member nations to contribute up to $270 billion to the International Monetary Fund, to address the Debt Crisis such as evidenced already in Greece, Ireland, Italy, and emerging in Spain and France.  British Prime Minister David Cameron declined to enter into the new agreement, stating it would not serve the best interests of Great Britain.  At a critical juncture in the recent circumstances faced by countries in the European Umion, something more needed to be done, and with Germany and France leading the way, the reorganization and new treaty seems the best way forward in face of  continuing difficulties.  The affect upon the members of the European Union and the greater role Germany may now exert sway with, to play in leading it forward and meeting the challenges. are the next questions for which answers will become apparent in the near future.  The United States of America, has a definite interest in the success of the European Union, as our economy as well as theirs, are interwined closely, given they are our second largest trading partners, after Canada...........Fr. Troy