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Is  the  Euro  Crisis  a  Sign  of  the  Demise  of   the  European  Union  or  a  Catalyst  for   Strengthening  Its  Supra-­‐  National   Institutions? Essay

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Below is an essay on "Is  the  Euro  Crisis  a  Sign  of  the  Demise  of   the  European  Union  or  a  Catalyst  for   Strengthening  Its  Supra-­‐  National   Institutions?" from Anti Essays, your source for research papers, essays, and term paper examples.

 
 
 
 
 
  Is
 the
 Euro
 crisis
 a
 sign
 of
 the
 demise
 of
  the
 European
 Union
 or
 a
 catalyst
 for
  strengthening
 its
 supra-­‐
 national
  institutions?
 
 

Introduction
The global economic crisis hit the European Union hard in 2010, 2 years after the subprime crisis started, which was highlighted by the bankruptcy of the Lehman Brothers bank, fourth largest Investment Bank of the US, in 2008. In 2002, a new currency was created for the European Union, which became the biggest trade area in the world, with an announced objective of competing the supremacy of the dollar. But massive, unsustainable deficits and public debt were accumulated by the Union that led to the Eurozone sovereign debt crisis in 2010, threatening and questioning the Eurozone’s viability. Today the European Union, as an International Organization, is itself in trouble, at many levels, and if the Eurozone crisis is not the causes of all the problems of the EU, it has non the less exacerbated them. So one could ask himself whether the Euro crisis is a sign of the demise of the European Union or a catalyst for strengthening its supra- national institutions. In bref, Can Europe survive the Euro?

Demise of the EU The creation of a single currency shared among European States, was meant to be an important milestone towards a successful regional Integration, on a political, economical an social level, as defined by David Mitrany1 in its Functionalism theory (1961), that was developed during the inter-War period. The main purpose was to create an a supranational entity of authority focused on common interest and needs that all member states shared, and not on the principle of territorialism that defined State-theories till then. The objective of such integration was to kill or at least undermine nationalism, the main root cause of war, and underpin peace on the European territory, as well as...

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Citations

MLA Citation

"Is  the  Euro  Crisis  a  Sign  of  the  Demise  of   the  European  Union  or  a  Catalyst  for   Strengthening  Its  Supra-­‐  National   Institutions?". Anti Essays. 11 Dec. 2018

<http://teachingsail.com/free-essays/Is-The-Euro-Crisis-a-Sign-584689.html>

APA Citation

Is  the  Euro  Crisis  a  Sign  of  the  Demise  of   the  European  Union  or  a  Catalyst  for   Strengthening  Its  Supra-­‐  National   Institutions?. Anti Essays. Retrieved December 11, 2018, from the World Wide Web: http://teachingsail.com/free-essays/Is-The-Euro-Crisis-a-Sign-584689.html


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