Is the European Union failing? Can you answer?
It is not the European Union that is failing but Greece. Subsequent Greek governments were just recklessly borrowing money from abroad building up a huge debt. Then their government agreed to fix the debt on the EU terms (slashing the welfare due to the spending cuts) and was also being given extra money from the EU to pay it off, but eventually lost to a radical left-wing Syriza, who promised their electorate they would bring back the burgeoning overgrown welfare (and due to the lack of money for that in the budget effectively borrowing more and more of it), which they did.
As a result they just keep telling the EU Council they would produce budget-cutting reforms, while no proposals as such are specified and assessed by them. They ask for money so they can spend it in Greece for overgrown welfare, that otherwise would not be economically possible and to pay off their debts. They just want the rest of Europe to pay for them so that they can live off lavishly. They are like a company that doesn't give any profit, but losses, a one you need to pay for. And they are not willing to change to give any profit in the future.
Would you invest in such a company?