The major question we have to ask when looking at the issue is, is it really worth it to be in the E.U?
This question needs to be asked because Greece is in serious debt right now, and they may pull out of the union, which many believe could cause another major recession.
Before we can address the more serious questions, maybe it’s easiest if we start at the beginning. What is in the European Union?
Currently, the E.U. has 28 members, though it started in the 1950s with only 6. The original reason for the partnership was as an economic cooperative in post World War II to promote peace and healing.
In 1993, the European Union that we now know was born. The countries involved offered each other key benefits that made the partnership enticing.
The European Union is one of the top economies in the world, with almost $16 trillion in GDP in 2014. Despite all of this, the 2008 recession had a real impact on this collective partnership. Many of the members of the E.U. have faced unprecedented levels of unemployment and debt.
Also, many critics have alleged that the E.U’s leaders have only focused policy efforts on the thriving economies such as Germany and France. While stronger economies are expected to subsidize weaker economies, this doesn’t always happen.
Many scholars have already lamented on the failure of the European Union experiment.
Then is the E.U. worth it? In Europe, the polls seem pretty split—it seems like nobody is quite sure.
What do you think? leave your comment here and share your thoughts!