In 2012, the Euro zone has experienced the Greek general election turmoil, the Spanish banking crisis and the sovereign debt crisis.After the European Central Bank implemented a series of unconventional monetary policy, the Euro zone financial markets have gradually stabilized, and financial risk-sharing mechanisms are emerging.At the same time, the Euro zone introduced a series of policies to promote institution building in the area, and made significant progress on the Euro zone fiscal union and banking union.In the short term, the debt crisis in Europe is still the major uncertainty.However, in the long term, the European debt crisis resolution mechanism is on the road; after establishing the fiscal union, the Euro area will continue to move toward political integration. <<