ONE MARKET, ONE CURRENCY, ONE PEOPLE? THE FAULTY LOGIC OF EUROPE.

AuthorSchoonover, Brenda B.

Jacob Grygiel, John Hopkins's current George H. W. Bush Senior Associate Professor of International Relations at the School of Advanced International Studies, gives the European Union a D+ rating as a functioning entity. He lists a number of familiar financial, political, social and cultural problems plaguing EU members including national disruptions and tensions and resentment among fiscally unequal states. While acknowledging that the EU has not failed yet and recognizing the hard work its leaders have expended to save the union, he notes "The challenge is that no matter how much time and money European leaders put into this effort, the outcome does not look promising."

Ruling out the notion of "one market, one currency, one people," the author believes the European Union needs "fundamental rethinking." Rather than blame the most financially troubled states: Greece, Italy and Spain," he faults EU planners for being unrealistic in their assumption that achieving economic unity would lead to political unity and economic integration. Nor does he think a common currency (the euro) can create a common identity among...

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