Eurozone crisis: beggar thyself and thy neighbour.

The article examines how the integration of developing counties into the eurozone geopolitical and economic zone has been impacted following the global economic recession of 2008-2009. The author discusses the relationship between European Union (EU) member states such as Germany and peripheral eurozone countries such as Greece, noting the effect European monetary unions and the creation of the European Central Bank have had on financial integration and interdependence in the region. The role of national competitiveness within the EU and the impact of the U.S. mortgage bubble crisis on the German economy are also addressed.