2012年，尽管欧元区经历了希腊大选风波、西班牙银行业和国债危机等重大事件冲击，但受益于欧洲中央银行执行的一系列非常规货币政策，欧元区金融市场逐步趋于稳定，财政风险分担机制初现雏形。与此同时，欧元区出台了一系列措施和政策推进欧元区制度建设，在财政联盟、银行业联盟等欧元区一体化项目上取得重大进展。预计在短期内，欧元区宏观经济再平衡需要继续深化，欧债危机仍是全球金融市场最大的不确定性；在长期内，欧债危机的解决机制已步入正轨，在降低欧元区内部宏观经济失衡的基础上，欧元区会继续推进一体化进程。
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.
