The small European nation Latvia joined the euro zone last month. Despite the ups and downs that the euro has experienced since its inception, there are still countries that believe this common currency grants them monetary stability. That might be true, or not. What is certain is that 2014 will be a critical year for Europe.
The 28 nations need to strengthen their political solidarity and fix the problems that hinder monetary unity. The ECB stress tests should scrub all trouble spots closely, and it is imperative that the economy kick starts. This cannot happen without greater bonds between the north and peripheral countries. Although 2013 numbers were better than comparable figures from recent years, some major risks still loom in the Old Continent.
