The financial crisis in Europe led to a reevaluation of monetary and financial integration in Europe and Asia. Before the crisis, there was strong support for regional cooperation in stabilizing exchange rates, but the crisis showed the risks involved. Despite this, the benefits of integration, like boosting trade and defending against financial instability, remain appealing. However, the crisis exposed flaws in the eurozone's approach, such as the lack of a clear exit strategy for struggling economies. Changes are needed in the concept of regional monetary cooperation, but it is still valuable.