European Union

Topics: European Union, United Kingdom, International trade Pages: 2 (478 words) Published: November 1, 2014
QUESTION 2: Consider the current discord among European Union members.  Why is it so important for the countries to maintain harmony?  How does the level of economic integration achieved by these nations influence this situation?

The European Union is an economic union consisting of 27 member states. To make a free market and remove trade barriers between member states are the ultimate aim of European Union (Hill p289). Among these ,17 nations are members of the ‘Eurozone’, distributing a currency with the purpose of further assimilating economic systems and plummeting trade obstacles caused by international currency conversion . As a member in Eurozone ,their fundamental goal is to maintain harmony because they have to depend on each other and their economy are interrelated. Although they tried to build harmony among themselves that is essential for them to avoid violence and helps to bond a strong political relation among each other .However , various level of social and economic growth as well as the change in values ,principles and political situation between members are the chief causes of discord among them. The current discord among European union (EU) which is one of the biggest financial and political union ,could be the regional economic combination which has been hindered the free trade of some countries across the EU. By local economic integration in today’s globalization, contracts among countries in a geographic region to attain economic improvements from the free movement of trade and investment among themselves (Hill, 2013). The Eurozone is obviously having a decline, unless a new wave of crisis. The London Financial Times states that, an 11 billion euro has been originated in the program for saving the Greek economy. The publication conditions that before the end of this year, the governments of the European nations which are the central holders of Greek debts want to allot an average half of that amount to the Greek government. Or else...

References: Discord Mounting in the European Union (III) by Pyotr ISKENDEROV 
http://m.strategic-culture.org/news/2013/08/18/discord-mounting-in-the-european-union-iii.html
Hill, C WL (9ed.) 2013, International Business: Competing in the Global Marketplace, McGraw-Hill Companies, New York.
Dallago, B 2013, 'Financial and real crisis in the Eurozone and vulnerable economies ', European Journal Of Comparative Economics
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Pros and Cons of the European Union Essay
  • European Union Essay
  • Essay on The European Union Foreign Relations Challenges in the Year 2012
  • Critically discuss whether Germany or Greece should leave the European Union. Essay
  • Have European Union Policies Helped the Developing Countries to Deve Essay
  • European Crisis Essay
  • Essay on European Sovereign-Debt Crisis
  • How Successful Have the Irish Government and the European Central Bank Been in Running the Irish Economy over the Last Two Years? Essay

Become a StudyMode Member

Sign Up - It's Free