Given a single transmission system, the currency could help achieve greater integration, galvanising the European economy into becoming fully competitive.
But the opposite is often truer: the criticism from America and Britain is that the euro zone lacks the integration needed to save the currency.
And yet, many of Europe's leaders believe the single currency can only be saved by much closer integration.
Whether the single currency spurs new and bolder efforts at political integration within Europe remains an open question (see article).
Mr Cameron says that there is a chance, and need, to redefine the UK's relationship with the EU because of moves towards further integration by countries using the single currency.
He wants the UK to remain within the EU but believes there is a need to redefine the relationship in light of moves towards further integration by countries using the single currency.
Mr Cameron wants the UK to remain within the EU but believes there is a need to redefine the relationship in light of moves towards further integration by countries using the single currency.
David Cameron has said he wants the UK to remain within the EU, but says there is a need to redefine the relationship in light of moves towards further integration by countries using the single currency.
The real source of uncertainty about the euro's future is not what is happening in these countries, but the failure of Germany and its European partners to commit themselves to the level of integration needed to hold the single currency together.
When the architects of Maastricht were unable to produce a political union some of them comforted themselves with the idea that a common currency would in and of itself bring further economic integration from which political integration would naturally flow.
He insisted that deeper economic integration was necessary for the success of a common currency.
This would help advance the Lisbon Agenda and foster the deeper economic integration necessary to make the euro zone a sustainable currency area.
On the campaign trail, National Front leader Le Pen called for France to leave the eurozone and restore its currency, the franc, as well as criticizing its political integration into the European Union.
On the campaign trail, National Front leader Marine Le Pen called for France to leave the eurozone and restore its own currency, the franc, as well as criticizing its political integration into the European Union.
In France and Germany there is deep-rooted opposition to further integration apart from what is necessary to save the single currency.
He was known as a pro-European who committed Italy to European integration and helped forge the way forward to a single currency.
Neither the states in the eurozone nor those EU members outside the single currency (including the UK) want to invest political capital in closer and expensive integration while voters lose faith with the European project.
His strongest positive proposal is European rather than British: a plea to reverse the Monnet tradition of putting economic before political integration, which he argues has become unsustainable against the horizon of the single currency.
But despite having shared a single market with one currency for nearly a decade, the euro zone has never established the polticial and regulatory integration that would allow it to face a crisis of such proportions as one.
In Davos recently David Cameron argued that successful currency unions had vital features in common: a lender of last resort for the state, economic integration and flexibility to deal with shocks, fiscal transfers and collective debt.
Full integration would equalise the expected rates of return on countries' bonds when measured in a single currency.
So fiscal integration is being pushed not to preserve freedom and a new nation, but to save a failing currency.
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