Essay on Will the European Union Survive?

Essay on Will the European Union Survive?

Length: 1838 words (5.3 double-spaced pages)

Rating: Powerful Essays

Open Document

Essay Preview

"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 three kinds of people: the have's, the have-not's and the have-not-paid-for-what-they-have's” -- Earl Wilson

Today, the world faces another economic crisis in the Eurozone. This crisis exists because too many people are consuming more than they are producing. In other words, the have not paid for what they have. Admittedly, Euro skeptics had always been apprehensive of a similar situation because of the obvious differences in the economies of all member nations that decided to share a singe currency. It seemed rather imprudent of the Union to bank on the prospect of huge developments within Developing Countries in spite of the economic bubble they were forced to maintain; it was bound to afflict the people involved. However, now that the problem at hand has grown from a simple debt deficit to a prospect of another global recession, the Greeks would only be taking a small hit compared to the dips that now seem unavoidable for both the Euro and the Global Economy. Therefore as disastrous as the implications of this situation can be, it is more important for the world to know if it can be solved and whether the European Union and Global Economy can dodge this particular bullet.

Strictly speaking, the Eurozone Crisis revolves around three main parties – Greece (which can be held responsible for most of it), the European Union (which is being held answerable for starting this domino effect and therefore curbing it) and the rest of the world – the Global Economy (that may be on the brink of a second major recession in just 5 years). Unfortun...


... middle of paper ...


...’t want to pay for the deeds of its policy-makers. Unfortunate;y, if the people and government of Greece don’t come to a common goal there's not much the world can do about it except to let it take the hit.

Currently, the European Union needs to focus on reaching a standstill in terms of economic growth because the only other option is a decline. There is serious debate over whether the Union should let Greece declare bankruptcy and save other less indebted nations to quarantine the crisis for now. The world still has a couple of months to figure the extent of the damages caused by the eurozone crisis. The European Union has done well to reduce its impacts even if it has failed to provide an effective solution to the looming dangers of another major economic crisis – it has assumed the role of fourth category of people : the have-paid-for-what-they-don't have's.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Essay on Will the European Union Survive?

- "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 three kinds of people: the have's, the have-not's and the have-not-paid-for-what-they-have's” -- Earl Wilson Today, the world faces another economic crisis in the Eurozone. This crisis exists because too many people are consuming more than they are producing. In other words, the have not paid for what they have....   [tags: European Union, Greek Crisis]

Powerful Essays
1838 words (5.3 pages)

Can the European Union Survive? Essays

- Q1 Multi-speed Europe is the idea that a core group of European states should move ahead with certain aspects of monetary union, operating under the assumption that the others will catch up eventually (Cini 231). The result is that some countries desire and push for more integration than others, which creates uneven compliance with EU integration, as in the case of the UK not accepting the Euro as currency. Some countries, like Bulgaria and Romania, were allowed to enter the union despite “evidence that they had not fully met their obligations,” (Cini 231)....   [tags: European Union Politics]

Free Essays
1187 words (3.4 pages)

Essay about Will the European Union Survive?

- "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 The burden of debt in the European Union, especially in Greece and Ireland, is detrimental to the continent's economy and people. Not only is it an issue throughout Europe itself, but it has become a dominant issue in global economics as well. As these European governments struggle to get back on their feet, the fate of the euro is clinging for life....   [tags: European Debt Crisis]

Powerful Essays
1621 words (4.6 pages)

Will the European Union Survive? Essay

- "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. The EU (European Union) has gone thru many changes. For some countries it has been a blessing and a huge success. For others adapting to a single currency and marketplace has been quite a struggle. The EU hopes to expand even further with the introduction of more states and become one of the largest marketplaces in the world....   [tags: European Union Essays]

Free Essays
1662 words (4.7 pages)

The European Union: Will Europe Survive The 21st Century? An Article by Walter A. McDougall

- Introduction The article, “Will ‘Europe’ Survive the 21st Century. A Meditation on the 50th Anniversary of the European Community,” written by Walter A. McDougall (2007), outlines the evolution of the European Union (EU) through a two-part analysis. The first part, entitled “The Other Age Born in the Year 1957,” extols several impactful historical events in economics, the role of religion; and, the strengths and weaknesses that led to the formation of the EU. The second part, “The European Union in a Wider World” provides a closer look at Europe through the political lens focusing on events in the recent past and present....   [tags: unified europe, islamic challenge, foreign policy]

Powerful Essays
1957 words (5.6 pages)

Essay on Contemporary Benefits of the European Union

- Stability, security, and prosperity are qualities every individual desires, yet achieving such conditions may be a struggle in certain parts of the world. In Europe where two world wars have erupted, multiple wars/battles have broken out between countries, and where the Black Plague swept through; causalities are high and resentment is established in some cultures. Yet the continent is beautiful everlasting landscape from the green rolling hills of Ireland to the snow-capped mountains of the Alps, every country has its beauty....   [tags: European Union Essays]

Powerful Essays
2099 words (6 pages)

Will the Euro Survive? Essay

- "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 The brutality of the World War II and the anguish of the Cold War enforced nations in Europe to establish the European Union for peace and unity in the region. With ratification of the Maastricht Treaty by members of the European Community in 1993, an economic and political union; the European Union is formed. In December 2012, the European Union awarded the Nobel Peace Prize for its “historical accomplishments”....   [tags: European Union, Greek Crisis]

Powerful Essays
1497 words (4.3 pages)

The European Union Essay

- After World War II, Europe needed a way to reconnect itself as a cohesive continent and find a character in itself. The creation of the European Union was a system to reunite Europe and help with its world identification. However, the EU has suffered setbacks to its formation – mostly economically. In 2009, the monetary policy failed due to the United States’ banking crisis in 2008. Also denoted to as the Eurozone crisis, the main question now is who and or what is to blame. The Maastricht Treaty, signed in 1992 by European leaders, set the ball rolling within the Eurozone crisis by establishing a common currency and creating a flawed setup....   [tags: European Union, United Kingdom, Eurozone, Euro]

Powerful Essays
718 words (2.1 pages)

Essay on Britain and the European Union

- Britain and the European Union “We have our own dream and our own task. We are with Europe, but not of it. We are linked, but not combined. We are interested and associated, but not absorbed.”1 Winston Churchill’s famous quote aptly describes Britain’s intentions towards European integration. In this essay I shall attempt to show that Britain’s relationship towards European integration has been one of a reluctant union, supporting free trade and mutually beneficial cooperation, while attempting to distance itself from economic and cultural ‘unity’ with Europe, and I will finish by describing the effects on Britain’s sovereignty since joining the European Union ....   [tags: European Union Essays]

Powerful Essays
1059 words (3 pages)

The European Union Essay

- Introduction In the course of fifty years, the European Union has expanded from six countries united under economic treaties to a large collective of twenty-five sovereign nations. Maintaining the union within such a large group has grown more difficult as numerous treaties have been drafted to control the governance of the European Union. To reduce the number of treaties in the union, the convention decided to draft a Constitution, which now moves through the process of ratification in each of the sovereign nations....   [tags: EU Europe European Union Politics Essays]

Powerful Essays
4427 words (12.6 pages)