EURR 2002 Lecture : EURR 2002 - Lecture 1

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carletonstudent378

5 Apr 2023

School

Carleton University

Department

European, Russian and Eurasian Studies

Course

EURR 2002

Professor

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Document Summary

Week 1 - the changing geopolitical landscape of europe. There are now 27 members of the european union, since the uk exited. Europe now has over 40 independent states (countries) 28 eu (soon 27); 7 of the former ussr not eu; 6 w. (switzerland, norway ) Redrawing the map of europe through war. France, uk, russia vs. germany, italy, austria-hungary. Outcome encouraged irredentism: state policies designed to reclaim lost territory. Germany occupied neighboring countries, beginning with poland. Axis surrendered in 1945, allies divided europe; cold war began. Peaceful collapse of the ussr (14 new countries, then more) Treaty of versailles creates feelings of bitterness on both sides. German people feel bitter and betrayed after taking blame for war. Many americans oppose league of nations and involvement with europe. Some former colonies express anger over not winning independence. Japan, italy criticize agreement; gain less land than they want. Tsarist russia collapses, ushering in a new order.

Related Questions

In 1990, the 789 million people in Europe lived in 25 different countries ranked as follows ( in millions): Russia 292, West Germany 59, Italy 58, Britain 56, France 56, Spain 39, Poland 39, Romaina 24, Yugoslavia 24, East Germany 17, Czechoslovakia 16, Holland 15, Hungary 11, Portugal 11, Belgium 11, Greece 9, Bulgaria 9, Sweden 8, Austria 8, Switzerland 6, Denmark 5, Finland 5, Norway 4, Ireland 3, Albania 3. Explain this scenario.

limeduck526

How does the current political/economic situation in the world impacts regional integration? Consider any of the factors, such as financial crisis worldwide and specifically in some European countries (Greece, Spain, Portugal, Ireland), wars in Iraq and Syria, rising superpowers of BRIC countries (Brazil, Russia, India, and China), increased conflict over such resources as oil, enlarged European Union, Brexit, weakening dollar, or any other.

sangriagnat961

Debt Crisis
With the creation of the European Monetary System and the birth of the euro in 1999, the U.S dollar is facing challenges to its position as the key reserve currency in international financial transactions. However, for the euro to keep its international position as a reserve currency, the European Union must function as a cohesive political entity that can exert its influence on the world stage. There are numerous challenges facing euro-zone countries now, with debt crisis in several countries.
The euro, common currency among seventeen euro-zone countries is facing numerous challenges. Germany's finance minister said âhis country is prepared to pursue bold action to preserve Europe's common currency, including deeper economic integration with its neighbors, and issued a warning to markets not to underestimate Berlin's resolve to protect the euro (Wall Street Journal, Dec. 11, 2010). Germany could accept steps toward fiscal union if current attempts to improve the euro zone's governance proved insufficient to end the year-old debt crisis. All European countries are determined to keep this European currency stable, so Europe will find steps toward further unification.
Many Germans, including leading members of the government, oppose further economic integration within the 17-nation euro zone over fears that Germany would be forced to pay the debt of others. Proponents of such steps warn that not only the euro but the EU itself could fall apart if governments fail to act. So far, Germany, the euro zone's economic motor, has vociferously opposed such proposals, sparking accusations from some of its neighbors that Berlin isn't acting in Europe's best interest. This is addressing fears that the debt crisis could spread from small countries such as Greece, Ireland, and Portugal to major economies such as Spain and Italy. It is argued that there will be no domino effect, as long as big economies like Germany defend the common currency.
Europe should concentrate on explaining to markets the decisions it has made so far, including the move to set up a European Stability Mechanism in 2013 that could impose losses on bond investors if euro members run up excessive debts.
Under the present structure, with unified monetary policy but not fiscal policy, different interest rates [on government bonds] are the mechanism that makes member states adhere to solid public finances. There is a need to improve the existing structure, and if this structure doesn't work, then they must indeed talk about alternatives.

1. Will increasing the size of the bailout fund (from which troubled countries can draw in times of crisis) help to prevent future crises? Why or why not? What is the downside of increasing this fund?

raspberrychimpanzee722

EURR 2002 Lecture : EURR 2002 - Lecture 1

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