INTERNATIONAL POLICY ANALYSIS Future Scenarios for the Eurozone 15 Perspectives on the Euro Crisis SCENARIO TEAM EUROZONE 2020 March 2013  The Eurozone is standing at a crossroads, facing the biggest challenges in its history: the systemic crisis and the political attempts to overcome it have far-reaching conse­quences for the future of the Economic and Monetary Union, European integration and Europe in the world.  By identifying the main driving forces that influence the future development of the Economic and Monetary Union, a number of different scenarios were developed to show what the Eurozone will look like in the year 2020.  Four major scenarios are imaginable: (A) Muddling through the Crisis. The Eurozone remains a house without a protecting roof. (B) Break-up of the Eurozone. The Euro house falls apart. (C) Core Europe: evolution of two-level integration with a smaller and stable, but exclusionary Euro house. (D) Completion of the Monetary Union by a fiscal and political union. The roof is repaired and construction completed.  Experts in 15 cities all over Europe evaluated, discussed and developed these sce­narios. A Pan-European perspective on the future of the Eurozone introduces an alternative way of looking at the Euro Crisis.