The eurozone’s economy is at the edge of collapse. Southern European countries experienced a sovereign debt crisis in 2010, and the unemployment rate in the euro area is still as high as nearly 10%. Italy rejected Mr Renzi’s pro-EU reform plan in the referendum, and in France, the anti-EU National Front’s Ms Le Pen is increasingly popular.
Yet what is the cause? Whilst the EU also faces the immigration crisis, the economic reason will be easily comprehended by only glancing at the trade statistics of the eurozone countries.