GEOG 220 Lecture Notes - Lecture 9: United States Of Europe, Supranational Union, Transaction Cost
Document Summary
Why the euro crisis: european union is the world"s largest trading block. Europe is the largest example in terms of pooling sovereignty. Future countries cannot directly copy the same method, but europe would be an example: the power of financial institutions vis a vis nation-state. Facilitate trade, investment, bring down transaction cost (economic) Problems with and for the euro: nationalism and supranationalism. It"s not easy, brings up difficult questions, design and management of currency. Currency originally as a symbol of the nation, with images/symbols that bring relevance to the population. Euro note: highly technocratic, no invoking of nationalism. Bridges: not actually existent, metaphor for bridging nations. Not actual places, so emotional attachment is less. One side is universal, the other side is more relevant to people(to invoke emotional attachment) It"s a large matter for a country to design a euro coin, brings in emotion, culture, history.
