Abstract
The European Union (EU) is one of the largest trade unions in the world and has a substantial impact on the global economic system. This paper discusses the creation of the EU, the establishment of the Euro as the dominant currency, and the diversity between the member nations, comparing their similarities and contrasting their differences. Organizations that influence and shape the European Union such as the World Trade Organization, the European Central Bank, and the International Monetary Fund are also discussed. As an illustration of this influence, Greece’s declining economy is examined. A brief outline of the migrant crisis that the EU is currently facing is also covered, demonstrating issues related to the cost of and transportation for war refugees, as well as criteria for processing them. In conclusion, an examination of the European Union’s current capabilities of integrating into a political union is conducted, evaluating its level of political and economic cooperation, the capacity and willingness to create a central military force, and the recent developments in negotiations between the EU and Great Britain.
Recommended Citation
Gordon, Jacob S.
(2016)
"The Economic and Geopolitical Effects of the European Union,"
The Kabod: Vol. 3:
Iss.
1, Article 1.
DOI: https://doi.org/10.70623/FDKB9401
Available at:
https://digitalcommons.liberty.edu/kabod/vol3/iss1/1