Present Day State of Affairs of the European Union

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TABLE OF CONTENTS

INTRODUCTION1

Current Issues faced by European Union1

What Is The Situation?2

The Current Scenario3

What Can We Expect In The Future?3

The Future of the European Union7

Impact on new Member States8

CONCLUSION9

REFERENCES10

Present Day State of Affairs of the European Union

Introduction

The European Union (EU) is a unique community of twenty-seven European states was established on November 1, 1993, when he came into force the Treaty on European Union (TEU), being the de facto successor of the European Communities, created in 50 years of the twentieth century. Its uniqueness lies in its partly supranational and partly inter-governmental, which has developed special political relations between its members that result in the establishment of a single legal system, and the existence and functioning of their own institutions. The primacy or priority of Community law over national rules where there has been devolution (and in cases where national standards collide with EU standards). In fact, Community law does not exceed the domestic law of the Member States of the Union, but it integrates coexist interdependently. (Fink, 1968)

Current Issues faced by European Union

The EU is in a very difficult situation as of now. Everyone knows that they have been experiencing problems with the financial situation in many of their member states recently, but it is now coming to a point where something big has to be done now or things will get worse in a hurry. There has been a lot of talk between the leaders of the major countries in the EU, but talk is cheap - there needs to be planning and action. Without it, things will just continue to get worse. (Ambady & Rosenthal, 1992)

What Is The Situation?

The EU is experiencing many of the same issues that the US and other major countries around the world are experiencing. Unemployment is getting higher, growth is stagnant, and the economic outlook in general is very negative. But, unlike the US, the EU has a whole other facet to deal with - countries that are in danger of defaulting on their debt and bringing the rest of the union down. It seems as though Italy has gotten most of their issues under control for the time being. Bills are being passed and progress is being made so they can return to financial prosperity in the near future. Of course there is a risk of them falling again and needing more help, but with every day that passes; this seems to become a smaller and smaller concern.

The big issue right now, though, is Greece. Unless you have had your head buried in the sand for the last few months, you know that Greece is in a whole lot of trouble. They are experiencing financial difficulties like no one thought, and couldn't deliver on the conditions of the first bailout they received. With the additional infusion of financial resources, things didn't really get better - it just slowed down their fall. (Higgs & Ploch, 2005)

Now, they are in need of a ...