StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

The EU in International Affairs: How will Greece bailout affect the European Union - Essay Example

Comments (0) Cite this document
Summary
This essay declares that European Union is widely referred as the EU. It is a unique partnership between twenty-eight countries. The partnership involved is economic and political one. It was created after the end of world war two to foster economic cooperation…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER95.2% of users find it useful
The EU in International Affairs: How will Greece bailout affect the European Union
Read TextPreview

Extract of sample "The EU in International Affairs: How will Greece bailout affect the European Union"

Download file to see previous pages As the discussion highlights European Union has institutions and bodies that helps it to function effectively. It has its own parliament, court of justice, court of auditors, which are involved in law making, the central bank, which is responsible for European monetary policy, the Committee of the Regions, European Investment Bank, which finances small business and EU projects among other bodies and institution. Lagged growth, the economy of this country has reduced at a high rate of twenty seven percent after the crisis in 2007. This led to a recession period and affected Euro greatly and melted down the economy. This has lead to the great depression, and has made the gross Domestic Product to stagnate. This crisis has lead to a decline in the economy and due to this, it will take Greece thirteen years to get back to its pre-crisis boom. This has made it to withdraw from the European Union, as its growth rate cannot be at par with the union growth rate. Increase in debt, the public debt of Greece is very high and largest in the euro area; this has forced it to undergo growth-curbing austerity. The increased debt is among the reasons why Greece withdraws from EU, this is because it is not in a position to repay its debt, unless debt relief is granted to it, it cannot continue to be viable as a member in the European Union. Europe’s north/ south divide, the division between north and south region are increasing creating more problems. This division started during the onset of the crisis. The southern debtor nations are trying to reduce their debt burden while the northern creditors are running deficits to ease this pain.  ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The EU in International Affairs: How will Greece bailout affect the Essay”, n.d.)
The EU in International Affairs: How will Greece bailout affect the Essay. Retrieved from https://studentshare.org/social-science/1691570-the-eu-in-international-affairs-how-will-greece-bailout-affect-the-european-union
(The EU in International Affairs: How Will Greece Bailout Affect the Essay)
The EU in International Affairs: How Will Greece Bailout Affect the Essay. https://studentshare.org/social-science/1691570-the-eu-in-international-affairs-how-will-greece-bailout-affect-the-european-union.
“The EU in International Affairs: How Will Greece Bailout Affect the Essay”, n.d. https://studentshare.org/social-science/1691570-the-eu-in-international-affairs-how-will-greece-bailout-affect-the-european-union.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF The EU in International Affairs: How will Greece bailout affect the European Union

European Parliament as an independent actor in EU affairs

... European Parliament as an independent actor within EU affairs Introduction The European Parliament or EP is one of the keyinstitutions within the European Union (EU), which is a directly elected body and comprises of 766 members from 28 member states. Although the EP is not formally authorised to induct legislation, it has an important role in the EU’s budgeting and legislative processes, and coordinates closely with the Council of the European Union and European Commission (the other two key EU bodies) and is considered as one of the most dynamic legislatures worldwide (Farrell, 2007). The Parliament is also the second largest democratically elected parliament in the world (the first being the Indian parliament) with the largest...
12 Pages(3000 words)Essay

European Union

... International business law falls under the ambit of public international law. Basically, “public international aw governs the relations between states. It comprises a body of rules and principles which seek to regulate relations between states,” (Dugard, 1994, p.2). As such, the European Union (EU) falls under public international law since it involves different states. This is clearly outlined by the European Union (2013) when it states that “the European Union is based on the rule of law. This means that every action taken by the EU is founded on treaties that have been approved voluntarily and democratically by all EU member countries.” As such, this part of the paper seeks to outline the development of the EU and how its operations...
10 Pages(2500 words)Term Paper

European union

In addition to this, public law involving the commerce in European Union has fundamental significance:2 i. Most of the laws governing ECJ commercial circles whether directly or indirectly, are grounded on the European Union Laws ii. The framework which governs private businesses is widely derived from the rules that were established in 1957: that is, The Rome Treaty iii. Most of the sections of the regimes ruling and providing guidance and direction are either prescribed to European Union Regulations or largely affected by the “sectoral” agreements reached upon by the states in agreement. The reference of the aforementioned views are made to the C-213/89 Factortame (No1) [1990] ECR I-2433 Case 11/70: a case that involve the contr...
4 Pages(1000 words)Essay

European Union

According to Templeton, the economic impetus behind the euro project can be traced from the relatively poor performance of the European economies over the past twenty years or more (8). Templeton states that Europe has, for a long time, suffered from relatively weak economic growth, persistently high unemployment and weak economic growth (8). In fact, a term, Eurosclerosis, has been coined to describe the dismal performance of the European economy which became more pronounced in the 1980s. In order to correct these problems, European policy making in the last fifteen years emphasized in launching two significant projects: (1) the single European market, with the free movement of goods, labor, services and capital , and (2) the eur...
13 Pages(3250 words)Essay

European Union (EU) Law

Through proceedings, ECJ judges became deeply interested to take actions against conflicts creating depression for the transnational actors and other individuals who could claim that their rights under the Treaty of Rome were being violated by existing national law or administrative practice against national legal regimes and those actors, public and private, advantaged by national rules and practices 1.
The ECJ is considered to be the most accurate jurisprudent body throughout the European community. So, there is no doubt that ECJ delegation in interpreting the treaties thereby ensuring that EU law is applied correctly in the member states is wrong. Similarly the European Parliament (EP) enjoys delegated powers in the legisl...
12 Pages(3000 words)Essay

International Affairs

... to their students of the real life working in the field of international affairs. Now when universities will not include international affairs program in their offered courses, how come grant makers would realize the need of funding in this area. That's why when we try to search universities offering postgraduate education in International affairs program; we mostly find public universities offering programs in this area. The second thing is that the grants are normally given to the people who are pursuing degrees in the field of science management and medicines since according to their perception they contribute directly to the development and well being of the country. There is not much realization among funding individuals...
32 Pages(8000 words)Essay

European Union

EUROPEAN UNION The negative outcomes of its various policies and the series of failed attempts of its ambitious economic reform policies, requires the Union to promptly overhaul its infrastructure and revamp its management policies. Some of the reforms undertaken by the European Union such as the Common Agricultural Policy, Competition Policy, Science and Technology Policy, Regional Policy and Social Policy and their resultant outcomes are described briefly in the following sections.
The CAP of the European Union has undergone several significant reforms since the beginning of the year 1990 which commenced with the seeking increased reduction on the market price support, and a support for direct payments (1992, and 1999 reforms...
2 Pages(500 words)Essay

International Affairs

... Sunday the latest information they had on Saberi was in the stories on its Web site. Saberis father said his daughter was finishing a book on Iran and had planned to return to the United States this year. The book is about the culture and the people of Iran, he said. She was hoping to finish it in the next couple of months and come home to have it published. Roxana Saberi was Miss North Dakota in 1997 and was among 10 finalists in the Miss America pageant that year. She graduated from Concordia College in Moorhead, Minn., with degrees in mass communication and French and with dreams of being an international correspondent. She said that her goal as Miss North Dakota was to encourage people to appreciate cultural differences. Saberis mother...
2 Pages(500 words)Essay

European Union

... European Union With globalization process and the economic liberalization, it has become paramount for countries to engage each other in trade partnership and international exchanges programs. The formation of trade unions and other trading blocs has been fueled by the increase in the need for economic integration and economic unions. Globally, countries and continents are engaging in bilateral or multi-lateral trade partnerships for the benefit of its trading partners. The need for the formation of economic and trade unions is prompted by the fact that these countries have different forms of economic and resource endowments thereby creating relative and comparative trade advantages. In this respects, each countries specializes...
2 Pages(500 words)Essay

Financing Greece and European Union Economy

... Summary One of the problem areas in the EU pertain to the financial problems of key members such as Greece, which act as a weak link to the Union and which threaten to undermine the stability of the European currency and the general economy. There is an urgent need therefore for the EU to try and respond in an effective manner to the financial crisis affecting Greece. This, even as Greece tries to come up with a solution to its problem that will not in turn cause pain and suffering to its people in the long run. A current issue has to do with the problem of the large debt pile of Greece and what to do with it. Reports are that Greece wanted to ask the European Union for the writeoff of a large part of its debt, something that the EU...
4 Pages(1000 words)Article
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic The EU in International Affairs: How will Greece bailout affect the European Union for FREE!

Contact Us