The European Union: Challenges and Perspectives

Botescu Ion ()
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Botescu Ion: „Ovidius†University of Constanta

Ovidius University Annals, Economic Sciences Series, 2017, vol. XVII, issue 2, 73-78

Abstract: We can say that the European Union can be considered, as a whole, a regionally integrated institution in which the relations between states can be considered to a large extent an example of globalization. The attitude manifested in the framework of the World Trade Organization and in the process of bilateral cooperation once again demonstrates the European Union’s attachment to the values imposed by the phenomenon of globalization. All these lead to an increase in the dependency and implicitly to the vulnerability both among the EU states and in the relations they develop with countries outside the European Union. At the same time, the complex mechanism of functioning developed at the level of the European Union, the exaggerated claims of some countries like Hungary, the reckless economic behavior of some countries like Greece determine the amplification of the effects in the event of a crisis. If to all these we add the protectionist measures that the new president of the United States wishes to implement, as well as some deterioration in the European Union credibility generated by Brexit, the bureaucratic aspects that characterize the European institutions, etc., we can outline the context of the European Union, which requires a series of measures to ensure the progress of the European Union as a whole and, in particular, the effective integration of each Community country.

Keywords: crisis; trust; solidarity; economic growth; Brexit (search for similar items in EconPapers)
JEL-codes: F15 F69 (search for similar items in EconPapers)
Date: 2017
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