Will the European Union Collapse? Essay

Will the European Union Collapse? Essay

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"Europe must prevent Greece from becoming an out-and-out catastrophe and make sure that the same fiscal 'remedy' is not applied to other weak economies" -- Franziska Brantner

There are many problems facing the European Union, banking crisis, the declining in intra-European solidarity and growth crisis. Specific businesses have increased their prices in some European countries faster than the other countries, which caused the euro to become less competitive; if the euro was cracked and some countries changed to their own currency then they would be able to lower their exchange rates. This would make their goods reasonably priced for the rest of Europe.

How did the E.U. begin, what is affecting the E.U.? The union was great back in the time, but with the crises they have, they went through a lot of contradictions to contain the situation. It suffers lack of courage and in tightening the rules and regulations of its system. They should have an honest debate or discussion without egoism and self-interest methods.

The European Union is an international association of European countries comprising of 27 countries, it was established under an agreement known as the Maastricht Treaty, signed in 1992, but many of its ideas are around since the fifties of the last century. One of the most important principles of the European Union is to transfer the powers of nation-states to the European international institutions. But these institutions remain governed by the powers granted by each state separately, so this cannot be considered as a federation union, as its unique political system is unique in the world.

After the devastating wars that have been witnessed in the European continent, and the two WW's, peace ha...

... middle of paper ...

... Service / - BNS. (March 15, 2011 Tuesday 2:47 PM EET ): 442 words. LexisNexis Academic. Web. Date Accessed: 2013/11/13.
4) JAY C. SHAMBAUGH, RICARDO REIS and HÉLÈNE REY, “The Euro's Three Crises [with Comments and Discussion]” Brookings Papers on Economic Activity , (SPRING 2012), pp. 157-231 Published by: Brookings Institution Press Article Stable URL: http://www.jstor.org/stable/23287217
5) http://europa.eu/about-eu/eu-history/index_en.htm
6) Constâncio, V., (2012) Bank of Greece Conference: The crisis in the Euro area. May 23rd, 2013 [http://www.ecb.europa.eu/press/key/date/2013/html/sp130523_1.en.html]
7) http://www.eurofound.europa.eu/areas/industrialrelations/dictionary/definitions/solidarityprinciple.htm
8) André Cabannes, PhD Stanford University, California, USA. August 2011, revised February 2012. [ http://lapasserelle.com/billets/greek_crisis.html ]

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