This thesis asks whether the euro is a driver of, or a barrier to, the eurozone’s economic growth. It is said that stable monetary policy (low inflation) is good for economic growth, and in the eurozone, we have seen low inflation in the past. Yet the economic growth is not that high and many say that the euro is to blame for that. Why is that? My thesis will analyze the current monetary policy of the eurozone, the advantages and disadvantages of the common fiscal discipline of the eurozone, and the event of the European debt crisis, to analyzes the defects of the single currency policy and explains the slow economic development in the eurozone.