The paper questions if European Monetary Union (EMU) is sustainable economically and politically. It argues that the economic benefits of EMU may not outweigh the sacrifices made by Member States. The study suggests that EMU restricts countries' policy choices and could lead to disarray without further European integration. It proposes that a political union may be necessary for EMU to truly benefit Europe. The biggest support for EMU comes from the will of European people and a shared 'European spirit', but the design of EMU could threaten the long-term success of the broader European project.