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European Union, 5/1/2010
Overview:
Formed in the wake of World War II, the European Union was created to provide a unified trading bloc for Western Europe. As the EU has grown, it has faced obstacles to integration, such as the addition of Central and Eastern European countries and the rejection of a new EU Constitution by France and the Netherlands. Now, years later, the EU faces threats to the euro, the economic instability of Greece and debates about further enlargement. Join Active Minds as we explore the historical roots of the formation of the EU as well as the economic and social issues that challenge its future.
Key Lecture Points:
• The evolution of the European Union from a regional economic agreement of 6 countries to today’s supranational organization of 27 countries is unprecedented. For this large number of nation states to cede any measure of sovereignty to an overarching entity is unique, but it also presents challenges, particularly during times of economic instability.
• The European Union is one of the largest economic markets in the world and a key American ally and trading partner. As the EU recovers from the world-wide recession, it has been further hit by threats to its common currency and its future questioned by the economic crisis in Greece, one of its member states.
• In May 2010, the International Monetary Fund (IMF) and member nations of the EU announced a three year $146 billion bailout of the Greek government. The extent of the bailout indicates the fragility of the European economy, and the challenges of the interconnectedness of the European Union. While not all citizens of EU nations are happy with the bailout of Greece, questions persist as to whether the crisis may spread to other EU nations.
• As the EU continues to integrate the 10 central and eastern European nations that joined in 2004, Turkey presses for admission. Opinions differ on the Turkish candidacy. While Turkey is a member of NATO and a long-standing ally of Europe (particularly during the Cold War), it is also an overwhelmingly Muslim nation and one which has particular economic challenges of its own.
Exploration Questions:
• What are the benefits and the disadvantages of a single European currency?
• How has the EU benefited the citizens of its member nations? What has been the down-side?
Reflective Questions:
• Do you think there will be a “united Europe” in the future? Why?
• What characteristics/traits do you associate with Europeans? Are they unique to one nation or found across national borders?
More to Explore:
• Web resources from the European Union: http://europa.eu
• BBC coverage of Greek and EU economic challenges: http://news.bbc.co.uk
• New York Time Coverage of the European Union: http://topics.nytimes.com
Books For Further Reading:
• Marsh, David. The Euro: The Politics of the New Global Economy. Yale University Press. 2009. 352 pages. Comprehensive political and economic account of the birth and development of the euro—the world’s second largest reserve currency. Click here to order.
• Pinder, John and Simon Usherwood. The European Union: A Very Short Introduction. Oxford University Press. 2007. 202 pages. The authors describe the history of the European Union, the momentous changes since 2002 and the challenges ahead. Click here to order.
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