The United Kingdom and the European Union: Symbiosis or Mutual Need - Research Paper Example

The United Kingdom and the European Union: Symbiosis or Mutual Need? Within recent years, a great deal of discussion and frustration has been directed with regard to the role of individual member states of the European Union and the respective benefits/contributions that are required/received via individual member states. Much of this frustrating has centered upon the belief and understanding by many stakeholders that their nation cares of birth respect to ensuring the continued survival and expansion of the European Union. For instance, individual citizens within France, Germany and several other member nations of the European Union infinitely higher share of taxes that are utilized to ensure the continued success, expansion, and distribution of wealth that exists within the European Community. By means of contrast and comparison, states such as Spain, Italy, Greece, Romania, and a litany of others pay a significantly lower share of this burden. As a means of tying this analysis in with recent events and public opinion, the discussion will be concentric upon seeking to analyze and understand the United Kingdom’s contributions to the European Union and determine whether or not these contributions continue to make sense in an age of austerity and hardship. Ultimately, the root question will focus upon whether or not the United Kingdom should continue to integrate with the European Union or whether it should in fact go its own way and seek to benefit itself apart from the European Union. It is the hope of this author that by engaging in such a topic of research, the reader will gain a more informed and rational understanding with respect to the way in which decisions regarding economic force should be predicated. Firstly, before delving into a point by point discussion of the pros and cons of inclusion in the European Union for the United Kingdom, it is necessary to analyze the overall burden that the European Union places upon the United Kingdom. Ultimately, each and every year, taxpayers within the United Kingdom are responsible for providing 11.3 billion pounds annually in support of European Union and its overall economic objectives (BARROSO 369). This staggering sum is even more troublesome when the individual considers the fact that these 11.3 billion pounds are invariably removed from the economy of the United Kingdom and spent elsewhere throughout Europe. Although the European Union provides a litany of benefits, especially economics, for the United Kingdom, the fact of the matter is that an annual loss of over $10 billion each and every year creates a situation in which the European Union and its overall benefit to citizens within the United Kingdom must be measured against the economic loss that it perpetuates. In order to understand this economic loss, it is necessary to discuss the individual profile of the United Kingdom and the means by which its economy is represented. The annual GDP of the United Kingdom, in the year 2012, stood at 2.5 trillion pounds; allowing the United Kingdom to rank as the 10th most powerful economy in the world. Beyond merely an understanding of the economic power that the United Kingdom represents, it is also necessary to understand that the United Kingdom, and specifically London, serves as an international financial hub; facilitating investment and brokering development throughout much of the world. The rationale behind this particular facet of the United Kingdom’s economy being specifically mentioned with respect to inclusion and further engagement with the European Union has to do with the fact that any decision to break free of European Union would dramatically impacted negatively affect the overall profitability that this together sector could seek to promote in the coming years. Furthermore, in addition to the GDP and financial hub that the United Kingdom represents, it is also necessary to denote the fact that the United Kingdom both a population in excess of 62 million persons. As a direct result of this, the ability to impact the labor force and engage with the European Union is profoundly more important for the United Kingdom as compared to a nation of a much smaller demographic. With an understanding of the profile of the economy and population of the United Kingdom defined above, the following section will focus specifically on some of the benefits that United Kingdom gains from continued integration with the European Union. The first of these has to do with the fact that United Kingdom, whether or not it would like to admit it, is no longer a global superpower. As the days of Elizabeth I answer Francis Drake have long passed, the dissolution of the British Empire and the hardships after the Second World War created a situation in which the United Kingdom is much more dependent and reliant upon partnership as compared to any time previously the past several centuries (Kelemen et al. 660). As can be accurately inferred, willful isolation will only cause economic and hardship for the population of the United Kingdom and will also further harm the productivity and success that the Europe Union might be able to engage. Another stark benefit with respect to the United Kingdom’s continued inclusion and cooperation with European Union has to do with the overall level of financial and economic regulations that the European Union can provide to the United Kingdom has developed its own economic controls and market restrictions, the size and scope of the financial enterprises rather than let create a potential corruption that could result in a repeat of the 2007/2008 financial meltdown. Although the eventuality of this is unlikely, the market restraints and oversight of the European Union to provide may necessarily serve as a check and balance to the on regulated greed and corruption that might otherwise spring forth from the financial markets located within London. Another strong benefit that many individuals have pointed to is somewhat paradoxical. The underlying reason for this has to do with the fact that many analysts indicate that the period of weakness and hardship of the European Union is currently undergoing underscores and highlights the need for further cooperation and partnership within a united Europe. For instance, these analysts indicate that the overall reputation and international impact that disparate parts of Europe could affect upon the United States and other large economic actors within the current world model would be drastically lower as compared to the overall success and impact that a united Europe could effect. Another direct benefit has to do with the fact that the United Kingdom’s government shares basic views and reform oriented economic policies as with respect to the European Union. As such, it does not require a great deal of accommodation for the United Kingdom and European Union to work jointly towards the respective goals that they seek to impact upon the regional and international environment. Another direct economic benefit that is represented with respect to inclusion in the European Union has to do with the benefit European workers bring to the United Kingdom’s labor force and economy (Hobolt 668). Beyond the efficiency improvements that lower cost European workers can provide, they also are a drastic and powerful impact upon the United Kingdom’s domestic economy. The underlying reason for this test back their boat responsible for paying taxes and for consumption once they arrive in the United Kingdom. As such, the economic breakdown and analysis of the cost and benefits of European inclusion necessarily must include an understanding of the fact that economic benefits of European labor within the United Kingdom far outweighs its costs. An additional economic benefit and concern must necessarily be with respect to the fact that the United Kingdom represents the second largest economy in the European Union. Therefore, engagement with issues concerning European security and Defense, market constraints, competition, and engagement with Eastern Europe are all directly within the interests of the United Kingdom; as well as the European Union (Puchalska 499). Accordingly, seeking to leverage the similarity and engage the issues with a singular point of interest is something that benefits the United Kingdom directly as it does not need to extend its own resources and efforts to bring about these very same concerns in similar regions of interest as the European Union is already affecting. Another benefit has to do with the fact that the current rate of globalization has created a situation in which any attempt at isolation will only harm the United Kingdom and its interests. Even a cursory review of the way in which international relations and global economics is currently being exhibited clearly denotes that trade blocs and cooperative agreements between countries is serving as a new norm for the way in which business and engagement takes place (Kuhn and Stoeckel 627). As such, even though the European Union may exhibit a unique drain the fences and potential for self determinacy that the United Kingdom might hope to establish, the fact of the matter is that the overall economic and international power that the United Kingdom could exhibit on its own would not be able to affect the same determinants. As a case in point, participation within the European Union’s economy provides access to a market that is in excess of 11 trillion pounds annually; greater than the overall economic output of the United States and Japan combined (Lee 615). As such, the reader can see that the overall economic costs of non-participation are potentially in excess of the overall economic costs of participation (Schneider and Tobin 110). In tandem with the understanding of the potential benefits that European unity provides, the following section will focus upon some of the arguments that are most common with respect to why the United Kingdom should not engage with European Union. The first and most obvious of these is of course with respect to the overall amount of money that British taxpayers are required to pay each and every year for inclusion into this particular entity. In measuring the $11 billion annually, critics point to the fact that this money could more effectively be spent domestically and could even be utilized as a means of a competent very same goals of the European Union is attempting to accomplish with it; albeit more cheaply. Another blatant drawback with respect to the overall continued inclusion and participation within the European Union for the United Kingdom is concentric upon the fact that such a low number of individuals within society continue to wish to be a part of the European Union. Although the number of interested individuals within the United Kingdom has waxed and waned over the years, current statistics indicate that fewer than 30% of individuals within the United Kingdom believe that inclusion within the European Union is a good idea for the best interest of the United Kingdom and its taxpayers Vogiatzis 745). Thus far, the analysis focused upon those points of view that are either fully in favor of or fully against inclusion and further cooperation with your feet. However, bear a part of the individual but that economic cooperation provided by the treaties and constraints of the European Union is ultimately a net benefit to the United Kingdom and its respective interests. However, it is also noted that political engagement with the European Union ultimately detracts from the sovereignty and overall power that the United Kingdom is able to exhibit within the European and global sphere. As such, the 30% that was referenced previously with respect to the overall number of individuals within the United Kingdom that wish to continue to be part of the European Union would drastically be increased if this number also included those that wish to a the terms by which the United Kingdom continues to engage with this particular entity (Semmler 908). As a function of redefining the way in which individuals within the United Kingdom were responsible for funding and integrating with the European Union, it is expected and rational to assume that the overall number of individuals that would support such a body would be drastically increased. The overall reason for engaging this issue in a balanced and measured way is so that the reader can gain a more informed understanding with respect to the underlying problems that individuals within the United Kingdom, and stakeholders within government for that matter, continue to exhibit with respect to the conclusion of the United Kingdom within the European Union and the means by which this particular arrangement harms and/or helps the aforementioned nation (Ugur 49). From the information that is thus far been provided, it is clear and apparent that there are many drawback potential to the way in which the United Kingdom should seek to page or disengage with the European Union in the immediate future. Ultimately, as a direct result of the fact that the United Kingdom is a democracy, the will of the people will ultimately be responsible for re-determining or continuing the current relationship that exists between the United Kingdom and the European Community. Furthermore, it is the understanding of this particular author that the European Union is ultimately a net benefit to the collective interests of the United Kingdom. The underlying reason for this has to do with the fact that contributions to the European Union help to provide a degree of synergy with respect to the overall goals and interests that the United Kingdom best path European Union and the United Kingdom place a high priority on developing markets, engaging in trade, encouraging democracy, and promoting human rights, a level of mutual and shared interests helps to define the relationship that the United Kingdom and European Union up to exhibit. Furthermore, it is also understood by the analyst that the United Kingdom to seek out the same goals your career on its own, not to mention the remainder of the world, the impacts of this would be negative from a purely economic standpoint. Works Cited BARROSO, JOSÉ MANUEL. 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