Notice of RetractionLooking forward to the future development of the euro area

Notice of Retraction

After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.

We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.

The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.

After the euro area was founded, Milton Friedman, the owner of the Nobel Economics Prize, pointed out that it couldn´t withstand the first big economic crisis. It was ten years old in 2009 when the sovereign debt crisis broke out in the wake of the global financial crisis. Nowadays, with the crisis becoming increasingly serious, whether the euro area might break up turns into a hot topic, though no agreement has been reached. Basing on the economic development and polices of this period, proceeding from the sovereign debt crisis, this article aims at looking forward to the future development of the euro area.