This paper makes a theoretical analysis of the European Union, the Euro Zone and Romania’s desire to join the European single currency. The controversies between economists regarding the construction process of the Monetary and Economic Union remain large. Is it advisable for Romania to adopt the Euro, given the uncertainty clouds over the currency's future? Can Romania maximize the benefits to adopting the Euro in the future? How can the Eurozone be reformed? What is the future of the European Union and Euro currency? To answer these questions we analysed: how the European Union and the euro currency was formed, we analysed some difficulties the European Union is facing at present, and several very likely scenarios about the future of the European Union.