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This research aims to evaluate and present strategic considerations within the European Union framework. The researcher of this essay aims to pay special attention to strategic interactions in relation to the debt crisis. It is vital for the European Union to counter the onslaught against the euro…
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This essay discusses that member states of European Union have been pilling pressure to the union following debts and recession crisis. Arguably, EU failed to offer protection to the interest of its members and their citizens thus leading lost of public support. Although it is not probable to argue that the turmoil has influenced the Europeans view to matters, other than its social influences, it may have influenced the engagement of European citizens to European projects. Strategic plans initiated by EU member states to counter the impact of the financial crisis, and the create employment is an indication of the impact of the economic crisis to the citizens of the Euro zone. A survey by “Transatlantic trend” argues financial turmoil affected 60% of the people interviewed compared to 55% of people affected by the crisis in 2009. Europeans show a lot of concern to development as revealed by the Euro-barometer, which provides a basis of gauging the crisis. Many believe that issues of immigration, insecurity, and environment are fundamental as issues relating to socio-economic issues. In the spring of 2007, major concern for most Europeans is the economic situation and inflation in 2008. Interviews conducted in spring of 2009 indicated economic turmoil as the major headache of most Europeans. Arguing from the report, 42% of people interviewed quoted economic recession as a threat. Unemployment was another factor alongside economic turmoil. It is arguable that economic slump has an effect on rate of employment since recession dislodges most people out of employment. Further, social crisis report produced in autumn 2009 indicates that 51% of citizens interviewed indicated unemployment as the major factor, which was ahead of insecurity by 19%, inflation by 19%, and healthcare by 14% respectively (Thierry, 2011:132). The above figures do not show the magnitude of the effects in a national scale in terms of social crisis. Apparently, many European nations argue that the economic nightmare has maimed their buying power. For instance, a study conducted by Smith & Grant (2003) and published in their book to evaluate the effects of the economic slump shows the following trend the Dutch claim 40% of its effects, Bulgarians feel 84%, Spanish 71%, and Romanians 89%. Euro-barometer flash survey indicates the significance of the effects of the economic crisis to the households in Europe. In addition, a look at the June 2010 survey results shows a big difference between northern and southern Europe (UK, Sweden, German, Denmark, Luxembourg, Netherlands, and France), in which at least 15% of citizens claim to have had challenges in paying their bills; including food, over the twelve months. The above observation varies with report from Southern Europe (Portugal, Spain, and Italy), in which economic crisis trend takes 17-20%, and in the Eastern Europe in which the economic turmoil takes 30% and (43% for Romania). It is arguable that the trend of economic nightmare in Europe takes the shape of social crisis (Thierry 2011:134). This argument leads to the questions as to whether a political crisis is looming, which will lead to increased conception with regard to the ability of the European Union to counter the crisis. In the recent past, observers still believe that euro is still a victor to the economic crisis. The observers argue that the joining of the European Union by the Icelandic countries is approve that euro could champion the crisis. Other observations are the determination by Baltic countries to introduce policies that would act to maintain a stable rate of exchange using euro as a single currency. According to Ronald & Saskia (2011:43), it is apparent that Europe alongside other continents in the world suffered economic recession towards the end of 2008 and beginning of 2009. However, it managed to avoid devaluation witnessed during 1930 economic turmoil. Largely, its
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