EU Ministers Fail to Reach Deal - Admission/Application Essay Example

Brief summary of the article; the persons, groups, or organizations with a direct or indirect stake in the situation being described

            The article selected is titled “EU Ministers Fail to Reach Deal” and is written by Rebecca Christine and Patrick Donahue on May 02, 2012.

The article is revolved around the following groups, the European Union ministers, who are the policymakers and implementers; the banks, which ought to be managed effectively; respective citizens and their trading partners, whose interests should be protected (Christie et al, 2012). The different groups involved have different interests and policies to bring on the board.

Q2

Brief identification of the moral issue

            Moral issues involve a difference in belief and not what one prefers. Is based on what a particular person or group of people believes is the best and has little arms for society. In the context of this article, the philosophy of moral issues is brought in the following manner and by the following moral issues. There is the issue of belief by some EU members that the implementation of the Basell three will hurt and drive the banks out of the business by some proponents members of the Union. This is based on the proponent that the high capital and liquidity requirements will not be met under the current business environment (Christie et al, 2012).

             The opponents of this moral issue argue that failure to implement the report will lead to capital inadequacy by the bank and make them vulnerable to the foreign financial crisis due to their business link. They also believe that the failure to effect recommendations will likely make customers lose their money as banks may collapse from the current European Zone crisis which some countries are yet to recover from. From their differences in believes and moral issues, the meeting failed to agree on a common policy and put off the deliberation to the next meeting of May 15, 2012 (Christie et al, 2012).