Here's my view: Integrating countries into the European Union is a nerve-wracking process. It's a lot like reuniting West Germany with East Germany. Even 15+ years after reunification, there's angst and economic disparity. But though I'm a little depressed about the state of the world today, I see the European Union as a qualified success. Adding countries does create instability -- but it does seem to help the new countries without ruining the old countries. The strength of the Euro suggests to me that investors still believe in Europe. So, while it's not all sunshine and roses, the trend seems positive.
