Tag Archives: EU

Treaty of European Union

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3 Points;

1. The Europe once again unite together, for the two wars in the past proved no good to set enemies within the Europe.

2. The union is mainly formed by economic treaties, including single currency and free trade within the EU.

3. The EU also would maintain a consistency in foreign policies, adding more to the unity of Europe.

2 Qs:

1. As the member nations of EU joint ever closer economically, the potential harm exists as well. Just like Greece broke in 2011, the whole Europe was affected by the financial crisis because of internal relation. Is this the reason why Great Britain was not part of EU? Who can help Europe to get out of the crisis when almost every nation in the union was devastated financially?

2. Is EU a new form of multination empire? What is the difference the multination empire and the EU?

Observation:

The relation between countries eventually is connected by the benefit and gains. When the interest is related together, it is hard to act against each other without hurting one’s own benefit. Perpetual peace may seem impossible during the first few decades of twentieth century, essentially because countries were trying to maximize each own profits, even at the cost of damaging other countries’ interest. Just like what Churchill said, “A nation has no permanent enemies and no permanent friends, only permanent interests. Have no lasting enemy, also have no lasting friend, only have the lasting benefits.” Only by unifying all the countries’ interests, can peace be maintained.

 

 

The Maastricht Treaty and the European Union

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Main Points:

1. Established the European Union, forming a union of states and peoples, demonstrating consistency and solidarity between the member states. Recognized that despite the differences between European nations, there was a distinctly European identity shared by all member states.
2. Established a common currency, the Euro, for all member states, which would tie the economies of all member states together. This is significant because inflation or deflation of the Euro, or any other economic activity for that matter, would significantly affect all the economies of the European Union. In addition to a common currency, the treaty broke down barriers to trade within the Union in order to stimulate all the economies of member states.
3. Mandated sustainable fiscal policies by the member states, including the maintenance of a debt no larger than 60% of that country’s GDP, and annual deficits no larger than 3% of that country’s GDP. Since the economies of all member countries would be tied to a single currency, it was very important to establish guidelines for successful and sustainable fiscal policies. An economic disaster in one state could lead to a continent-wide depression.

Questions:
1. What were some of the major challenges in switching all of these economies to the Euro from their original currencies, and what was the time frame in which the switch occurred?
2. What was the primary impetus for the formation of the European Union, since trade agreements in Europe had already existed for decades?

Observation:
The European Union began with twelve member states, and has grown to include 28 members since its inception. There are more states waiting to join the Union, perhaps most notably Turkey.