The Future of the European Union

Scheherazade Rehman
Additional contact information
Scheherazade Rehman: European Union Research Center, The George Washington University, Washington, DC, USA

Global Economy Journal (GEJ), 2015, vol. 15, issue 2, 213-230

Abstract: The European Union (EU) currently comprised of 28 countries is heralded as the single most ambitious voluntary supra-national economic, trade and monetary arrangement in recent modern history. The initial impetus of this arrangement began in 1951 with The Coal and Steel Union amongst Germany, France, Belgium, Luxemburg, Netherlands, and Italy and it continues to evolve today. The most ambitious part of this arrangement is the economic and monetary union (EMU) of 19 EU members countries called the Eurozone. This grand experiment has recently faced its biggest stress test with a double dip recession – the 2008 global financial crisis and the 2010+ European sovereign debt crisis. While many experts focused on the lack of fiscal union to resolve the Eurozone’s current problems, the issues are more complex. Systemic risk in Eurozone originates in part from three principal areas: political issues, lack of a fiscal discipline enforcement mechanism, and market failure.

Date: 2015
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.worldscientific.com/doi/abs/10.1515/GEJ-2015-0028
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:gejxxx:v:15:y:2015:i:02:n:gej-2015-0028

Ordering information: This journal article can be ordered from

DOI: 10.1515/GEJ-2015-0028

Access Statistics for this article

Global Economy Journal (GEJ) is currently edited by Joseph Pelzman

More articles in Global Economy Journal (GEJ) from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().