What are the current advantages to member countries of the European Union? What are the disadvantages? What conditions are necessary to have a successful monetary and economic union? How are the monetary and fiscal policies of the European Union countries exercised? – There are current news reports about the European Monetary Union being in substantial trouble – even that the Euro as a currency may collapse. If this were to be the case, what forces do you think would make the collapse of the Union and the Euro possible?