India, Feb. 3 -- The Euro, the single common currency of the 19 members of the 28-member European Union (EU), completed two decades this January. The survival of the currency is itself a big feat. The Euro has uniquely yoked together and made a mosaic of nations of such varied cultures, languages and nationalities that is simply unimaginable. The Euro came of age and sometime back ranked as the world's number two currency. What the international community has witnessed is that after years of relentless criticism and prediction of doom, the single currency has already outlived many of its harshest critics.

However, the EU is weakened by economic crisis and shaken by a sharp and awakening populism. Besides, the region is constantly facing ...